EconomyUS Treasury maintains ban on Russia's oil supply to...

US Treasury maintains ban on Russia’s oil supply to US

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US Department of the Treasury building in Washington DC. archive photo

US Treasury: Russia’s oil price ceiling continues ban on US deliveries

WASHINGTON, November 23 – RIA Novosti. The US Treasury said on Tuesday that imposing a ceiling price on the purchase of Russian oil proposed by the G7 countries does not cancel the ban already imposed on its imports to the US.

The United States banned all oil and gas imports from Russia in March of this year.

A statement published on the US ministry’s website states, “The decision (on setting a price ceiling – ed.) does not allow the prohibited import of Russian oil to the US.”

In September, the finance ministers of the G7 countries (UK, Germany, Italy, Canada, USA, France and Japan) confirmed their intention to impose price restrictions on Russian oil as part of the expansion of sanctions. In early October, the European Union introduced the eighth package of sanctions against Russia, which includes a legal basis to set a price ceiling for the sea transport of Russian oil to third countries. It is planned to impose a price limit on December 5, 2022 for oil and February 5, 2023 for petroleum products.

Citing knowledgeable sources, Bloomberg previously wrote that the G7 countries are waiting to announce that the ceiling price cap for Russian oil will be set on November 23.

Commenting on the West’s idea of ​​limiting the prices of Russian energy resources, Russian President Vladimir Putin stated that Russia will not make any supplies abroad if it is against its own interests.

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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