Yellen discusses price cap on Russian oil with UK’s Zahawi – U.S. Treasury

2022.07.27 05:42

FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends a meeting with South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho at Lotte Hotel, in Seoul, South Korea July 19, 2022. Chung Sung-Jun/Pool via REUTERS

(Reuters) – U.S. Treasury Secretary Janet Yellen highlighted a proposed price cap on Russian oil on a phone call with British Finance Minister Nadhim Zahawi on Tuesday, a move to reduce the impact of the war in Ukraine on global energy prices.

Both discussed the need to continue to accelerate budgetary support for Ukraine, and opportunities to build on sanctions imposed on Russia, the U.S. Treasury Department said in a statement.

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