Yellen Sees Success in Extending Russia Price Cap, Despite Risks
- Coalition moving toward restrictions on refined products
- Next step on Russia will be ‘more complicated’ than crude cap
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US Treasury Secretary Janet Yellen expressed confidence that restrictions on Russian sales of crude oil can be expanded to refined petroleum products in February, while acknowledging that the task will be more complicated.
“We’ve studied these markets very carefully and believe we’re going to come out with a set of caps that will achieve the same things that we’ve achieved with crude so far,” Yellen told reporters Saturday during a visit to Dakar, Senegal. There’s always a chance, she said, that things may not go according to plan.