The United States has not yet determined the price ceiling for Russian oil

WASHINGTON, Oct 13 – PRIME The United States, along with its allies, has not yet set a price ceiling for oil from Russia, but is actively working on it, said John Kirby, coordinator for strategic communications at the National Security Council.

US Treasury Secretary Janet Yellen suggested on Wednesday that the price could be capped at $60 a barrel, with benchmark Brent now trading at $92 and Russian Urals blend shipping at $75.

“We don’t have a price cap right now. But we’re actively working on trying to work out those details, including the implementation of how we’re going to apply the cap,” Kirby said at a media briefing.

He added that the United States continues to consider the price ceiling for oil from the Russian Federation the right and feasible step.

The United States and its allies, as part of sanctions pressure due to the conflict in Ukraine, 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.

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.