Wed, Dec 28, 2022
President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap.
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Sat, Dec 03, 2022
US Treasury Secretary Janet Yellen has proposed the cap with other Group of 7 allies as a way to limit Russia's earnings while keeping Russian oil flowing to the global economy. The aim: hurt Moscow's finances while avoiding a sharp oil price spike if Russia's oil is suddenly taken off the global market.
Fri, Nov 25, 2022
Western governments are aiming to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine.
Wed, Jun 01, 2022
Oil prices rose in early Asian trade on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and China ended its COVID-19 lockdown in Shanghai.
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