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Russian oil price cap will ease inflation, harm Moscow's finances, Yellen says

Russian oil price cap will ease inflation, harm Moscow's finances, Yellen says
Russian oil price cap will ease inflation, harm Moscow's finances, Yellen says -  Copyright  Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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WASHINGTON - U.S. Treasury Secretary Janet Yellen said that a price cap on Russian oil agreed by Group of Seven (G7) finance ministers on Friday would help fight inflation while delivering a blow to Moscow's ability to finance its war in Ukraine.

The price cap helps achieve "our dual goals of putting downward pressure on global energy prices while denying Putin revenue to fund his brutal war in Ukraine," Yellen said in a statement.

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