According to “Bloomberg,” which cited reliable sources, the American government is being forced to reevaluate and maybe raise its intentions to impose a cap on Russian oil prices since it was unable to secure enough backing from other nations.
The agency says that in light of investor scepticism and the rising dangers in the financial markets, which are brought on by market volatility and national central banks’ attempts to fight inflation, US officials had to lower their estimates about the ceiling of the Russian oil price.
The European Washington partners and US Treasury Secretary Janet Yellen were attempting to set a ceiling of between $40 and $60 per barrel of Russian oil, while the American side was attempting to be closer to the minimum.
Bloomberg cites sources as saying that the limitation is now being discussed as being closer to the upper limit, despite the fact that some EU officials think that this will enable the Kremlin to import large amounts of goods through the sale of oil.
According to the sources, the “Seven” group of nations and Australia want to uphold the price ceiling, and South Korea told the other nations in the group of its intention to do the same. Officials of the group are after New Zealand and Norway.
However, it is also obvious that China and India do not intend to take part in these initiatives.
According to estimates from the International Energy Agency, Russia made $15 billion on oil sales in September.
The price of Russian ore was $74 per barrel last month.
From “Bloomberg.”
Bloomberg: The American government must reevaluate its goals for the price cap on Russian oil.
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