Russian Oil Move by Treasury Secretary Janet Yellen

Janet Yellen, the United States Secretary of the Treasury, recorded statements regarding Russian oil. Yellen stated that they are making talks with the allies to limit the price of oil.

Expressing that they have recorded meetings with Canada and other allies, Janet Yellen stated that they have made talks on imposing a limit on Russia's oil prices without affecting low-income countries in order to limit Russia's energy revenues. Janet Yellen, who held a press conference with journalists in Toronto, Canada, stated that they are negotiating on price limits or exemptions that will reinforce the energy sanctions of Europe, the USA, the UK and other countries in order to suppress Putin's revenues and reduce the price of Russian oil. Yellen added that while doing this, it will also enable more oil supplies to global markets. The US Treasury Secretary stated that the price of Russian oil could be capped in the shipment of oil above a certain amount, through insurance or a mechanism that makes financing difficult. Yellen stated that the mechanism could reduce Russia's oil income without cutting off the supply of Russian oil to world markets.