The leaders of the world’s richest countries are close to a political agreement to try to limit the price of Russian oil, which continues to be bought by various states, including the European Union.
The initiative has been defended by the Secretary of State for the US Treasury, Janet Yellen, and appears as an alternative to sanctions that involve an embargo on purchases from Russia. The main goal is to curb revenues from the sale of oil and oil products that continue to fuel the Russian war machine, while limiting the effect of economic sanctions already imposed. But there is also the expectation that this cap could help curb the rise in oil on the international market, with effects in controlling inflation in several economies, despite the fact that Russian crude is already trading at a significant discount compared to the prices of both. main international markets, London (Brent) and New York (Nymex).
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Source: Observadora
