Yellen hopeful of new sanctions on Russian oil

US Treasury Secretary Janet Yellen stated that she believes the negotiations aiming to expand the scope of restrictions to be applied to Russian oil works will conclude in a timely manner with the new sanctions to be announced by the EU.

US Treasury Secretary Janet Yellen said she is confident that negotiations aimed at expanding sanctions on the sale of Russian oil artifacts will conclude in the near future, coinciding with the new EU sanctions against Russia.

“We are in the middle of talks with all our allies,” Yellen told reporters during her visit to South Africa. I am hopeful that we can reach an agreement by February 5,” he said.

EU officials released a plan Thursday to set a price cap for services at $100 per barrel for Russian diesel and $45 for cheaper fuel grades. Yellen specifically did not comment on whether these proposals were accepted by the United States.

The coalition of G7 countries and US-led countries, including the EU, imposed a set of restrictions on Russian crude on December 5, working in conjunction with the bloc’s crude.

While these greatly restrict the import of Russian crude oil transported by sea, Russian crude oil costs less than $60. underbanned from being shipped to any point in the world where it was not priced.

The sanction appears to have helped reduce revenue from Russia’s crude oil sales while keeping Russian supplies in the global market.

It is stated that the group planned this program to cover two clusters of refined Russian oil artifacts on February 5, but now price limits are not accepted.

According to Bloomberg sources, the upper limit of $100 per barrel will apply to works that are processed at a higher price than crude oil, such as diesel. Sources added that a lower threshold of $45 will be set for those with a discount on fuel. It is charged that the numbers may change during the negotiations in the middle of the member states.