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15.11 - 15:27
U.S.-Backed Plan to Cap Price of Russian Oil Hits Delays
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WASHINGTON—The Biden administration’s effort to roll out a price cap on Russian oil has hit delays, as the Treasury Department tries to ease industry concerns about the novel sanctions regime at the center of the West’s economic battle with Russia.
The U.S. and its allies are preparing to bar businesses in their countries from shipping, financing and insuring Russian oil on Dec. 5 unless the oil is sold below a set price—and had hoped to finalize the plan at least a month ahead of time to prepare oil markets. The U.S. is coordinating the strategy with other Group of Seven advanced democracies and Australia.
Read more on wsj.comAbout this in other media
U.S. Treasury Issues New Guidance on Russian Oil-Price Cap in Bid to Calm Markets wsj.com /2 years ago
U.S., Allies Set Parameters for Price Cap on Russian Oil wsj.com /2 years ago
Analysis: Ukraine's Zaporizhzhia nuclear power plant disconnected after Russian shelling euronews.com /2 years ago
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