The proposal to cap prices of Russian oil is aimed at curbing the oil revenue Moscow uses to finance invasion of Ukraine. Read more at straitstimes.com.
NEW DELHI - The United States had constructive talks with Indian officials on a proposal to cap prices of Russian oil, US Deputy Treasury Secretary Wally Adeyemo said on Friday , as it seeks global support for a proposal to cut Russian revenue.after the Ukraine invasion at a discount to the market price, at a time Western sanctions have pushed global inflation to the highest levels in years and hurt revenues of European and American companies linked to Russia's oil trade.
"We are very concerned that come Dec 5... we will be in a place where access to Russian crude will diminish for the world and would potentially lead to higher prices," he said.
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