Free Trial

US Secretary To Hold Talks With Europe On Oil Price Cap

OIL

US Deputy Treasury Secretary Wally Adeyemo will travel to Europe on 7-9 November to discuss sanctions on Russa and to continue coordinating the implementation of a price cap on Russian oil.

  • “He will also continue the close coordination on implementing a price cap on Russian oil that will facilitate the flow of oil onto global markets at lower prices and cut into Putin’s main source of revenue", a Treasury spokesperson told Reuters.
  • The U.S. government, the G7 and the EU plan to impose the price cap which begins on 5 December as part of sanctions against Russia for its invasion of Ukraine.
  • Earlier this week the US Treasury Department outlined the timeline for Russian petroleum cargoes that are subject to price caps.
  • To read the full story

    Close

    Why MNI

    MNI is the leading provider

    of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

    Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.