RPT - 'Too Early To Tell' If Russian Oil Price Cap Working - US Energy Adviser
Umer Jamshaid Published March 07, 2023 | 11:10 AM
HOUSTON (UrduPoint News / Sputnik - 07th March, 2023) It is too early to tell if the West's Russian oil price cap plan is working, US Special Presidential Coordinator for Global Infrastructure and Energy Security Amos Hochstein told Sputnik.
"I think it's too early to tell but I think so far so good," Hochstein said on the margins of CERAWeek on Monday.
After Russia began its special military operation in Ukraine, the West actively searched for ways to limit Moscow's energy-related income, notably from oil and gas.
The effort culminated with a $60 price-cap imposed by G7 member states and Australia on December 5. In response to the price cap, Moscow banned the supply of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap, in a decree signed by President Vladimir Putin in late December.
Recent Stories
At least 10 people killed in Brazil fire: officials
Shahzaib Rind calls on Deputy Speaker Balochistan
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-le ..
DC Tharparkar inaugurates anti-polio campaign
HDA Mehran workers demand salaries
Taxila police nab motorcycle lifter gang
Inter-university weightlifting championship kicks off at SAU
Walk held in a series of enrollment campaigns
Team from Gaza mediator Egypt arrives in Israel for truce talks
Kids murders: IHC orders psychiatric examination of mother
Health minister credits PML-N for advancements in organ transplantation
Court grants interim bail to Azam Swati in cyber crime case
More Stories From Business
-
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
42 minutes ago -
Police to take every step for security of business community: IGP
42 minutes ago -
WB director, Planning minister discuss reforms in development projects
50 minutes ago -
IP rights crucial in achieving SDG : Jam Kamal
2 hours ago -
FBR’s data protection efforts commended by OECD assessment team
2 hours ago -
US stocks rebound on tech earnings, London hits new record
3 hours ago
-
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
3 hours ago -
SBP to announce monetary policy on April 29
3 hours ago -
50pc cut in subsidy of BRT service likely: CM’s aide
4 hours ago -
PSX gains 771 points
5 hours ago -
Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties
5 hours ago -
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
5 hours ago