The US Treasury Department proposed a price cap for Russian oil exports, limiting their price to $60 a barrel. US Treasury Secretary Janet Yellen suggested that the price of Russian oil can be limited to $60 per barrel. "So certainly a price in that range would be sufficient to feel that Russia could profitably produce and sell oil," Yellen added. At the same time, Washington will continue cooperating with its allies on the price cap, adjusting it if needed. Besides, the measure is not mandatory. Meanwhile, the US is not planning to impose secondary sanctions against those buying Russian oil at a price exceeding the ceiling, which means buyers have nothing to fear. Yellen's deputy Treasury secretary, Wally Adeyemo, said that Washington was working on economic measures to maintain the markets and make oil prices and Russia’s revenues fall. Moscow reacted immediately to the price cap. Russian President Vladimir Putin said that Russia would halt oil supplies for those countries which took such a step. The president added that countries that import Russian energy “are in no position to dictate their will.”
