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Yellen Says ‘Stay Tuned’ for Word on Russian Oil Price-Cap Plan

  • Cap could work through an exception to EU’s insurance ban
  • Says Keystone wouldn’t solve short-term energy-price woes
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WATCH: Yellen says the US and its allies are continuing discussions on they might cap the price of Russian oil exports. T

Source: CTB via APTN

Treasury Secretary Janet Yellen said talks are continuing on how the US and its allies might cap the price of Russian oil exports, possibly through a plan that offers exceptions to the European ban on insuring Russian oil shipments.

“We are continuing to have productive conversations, today and with our partners and allies around the world with how to further restrict energy revenues to Russia while preventing spillover effects to the global economy,” Yellen said during a press conference in Toronto alongside Canadian Finance Minister Chrystia Freeland.