In the United States proposed to limit the price of oil from Russia to 60 dollars per barrel

WASHINGTON, Oct 13 – PRIME US Treasury Secretary Janet Yellen has proposed setting a ceiling on the price of Russian oil at about $60 per barrel.

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Brent crude costs more than $90, while Russian Urals is traded at $75 a barrel, according to Reuters.

“A price in that range would be sufficient for Russia to be able to produce and sell oil at a profit,” Yellen, who spoke at the International Monetary Fund and World Bank event, was quoted as saying by Reuters.

According to Yellen, Russia has been ready to extract and sell oil for $60 for the past five to seven years.

As part of the sanctions pressure due to the conflict in Ukraine, the United States and its allies are going to introduce price restrictions on the export of Russian oil in order to reduce Russia’s revenues, but maintain its presence in the world market. As conceived by the authors of the initiative, the limits will be determined by a coalition of countries, including the United States, and the oil contained in them will be excluded from the forthcoming ban on transportation by sea.

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The Russian authorities have already made it clear that they are not going to sell oil to countries that will apply the mechanism of price restrictions.


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