NEW YORK (Reuters) – The $60 per 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 US official has said Treasury Department on Friday.

Speaking to reporters hours after EU governments persuaded Poland to accept the cap, the official said the move will limit Moscow’s oil revenues and divert billions of dollars from its war in Ukraine.

“Through…



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