NEW YORK, Dec 2 (Reuters) – The $60 a barrel price cap for Russian sea crude agreed by the European Union will feed global markets well while “institutionalizing” rebates created by the threat of such a cap, a senior said US Treasury Department official on Friday.

The official spoke to reporters hours after EU governments persuaded Poland to hold back accept the capsaid the move will limit Moscow’s oil revenues and siphon billions of dollars from its war in Ukraine.


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