Skip to content

US, Allies Discuss Capping Russian Oil at $40-$60 a Barrel to Cut War Financing

  • US also weighing enforcement tools, including sanctions
  • Secondary sanctions seen as a measure of last resort
Video player cover image
US, Allies Discuss Capping Russian Oil

The US and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter.

Allies have been exploring several ways to limit Russia’s oil revenues while minimizing the impact on their own economies in discussions that began in the run-up to the Group of Seven summit.