The U.S. Treasury Department has released new details of its long-awaited plan to impose a price cap on Russian oil, but the United States and its allies are still finalizing how much they'll pay for petroleum exports. The new guidance is meant to help firms and maritime insurers understand how to abide by the price ceiling, according to a senior U.S. Treasury official who discussed the plans on a call with reporters on November 22. The official said the plan allows the United States and its allies to reduce Russia's revenues while keeping oil on the market. To read the original story from AP, click here.
Editors' Picks
RFE/RL has been declared an "undesirable organization" by the Russian government.
If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.
To find out more, click here.