U.S. Treasury “Tightens sanctions to cap the price of Russian crude oil”

The United States will further strengthen price cap sanctions against Russia. A strategy to further damage Russia's fiscal revenue by making it impossible to purchase Russian crude oil above a certain price.
It's an abbreviation. Deputy Treasury Secretary Adeyemo said in a speech at the American Foreign Relations Association (CFR) on the 23rd (local time), ``Today, we are imposing additional price cap sanctions that will increase the amount Russia spends to evade sanctions.''
"We will strengthen policies to reduce Russia's fiscal revenue." Western countries have been implementing sanctions capping the price of Russian crude oil since December 2022. 60 per barrel
This method sets a price ceiling for the dollar and imposes sanctions if the country buys crude oil at a higher price. Seven major countries (G7) including the United States, Japan, the United Kingdom, Germany, France, Italy, and Canada, and the European Union (EU)
, Australia and others participated. Western countries are expected to pass additional sanctions and take measures such as further lowering the price ceiling for Russian crude oil or expanding the range of products. US
On the same day, it launched sanctions against Russia and more than 500 Russian-related corporations and individuals. The country placed the largest state-owned shipping company, Sovcomflot, under sanctions, further restricting Russia's oil exports.