The price cap G7 countries are planning to put on Russian oil to punish Moscow should be placed at a fair market value minus any risk premium resulting from its invasion of Ukraine, a U.S. Treasury Department official told reporters on Friday.
“There are several key data points we are considering and how the prices should ultimately be set and that includes the marginal cost of production for Russian oil,” said Elizabeth Rosenberg, Treasury Department assistant secretary for terrorist financing and financial crimes. Rosenberg said that over the coming weeks the G7 will work together to determine the price cap and “bring forward the legal regimes in on jurisdictions that will give more specificity and clarity to exactly how this will be accomplished.”
U.S. Treasury Secretary Janet Yellen and other Biden administration officials have been travelling to oil consuming countries to promote a mechanism that seeks to cut Russia’s oil export revenues, the lifeblood of its war machine, without reducing volumes of Russian shipments to global markets.
Several EU countries fear Moscow could retaliate if cap price on Russian gas is imposed and cut off supplies altogether - Financial Times Europe put itself in a corner that it can not get out of...
What the US says is increasingly meaningless. Europe is literally paying for American malevolence. And Ukrainians are naively paying with their own blood. Fundamental for the world to remember: the US created & hopes to benefit from this Ukraine debacle. NATO is an evil empire.
Yeah this will work. 🙄
Too bad the globalist liberal cartel brought us to the part where what Russia does with O&G means sweet fuck all to us