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Yellen Says ‘Stay Tuned’ for Word on Russian Oil Price-Cap Plan

June 20, 2022, 9:11 PM

Treasury Secretary Janet Yellen said talks are continuing on how the US and its allies might cap the price of Russian oil exports, possibly through a plan that offers exceptions to the European ban on insuring Russian oil shipments.

“We are continuing to have productive conversations, today and with our partners and allies around the world with how to further restrict energy revenues to Russia while preventing spillover effects to the global economy,” Yellen said during a press conference in Toronto alongside Canadian Finance Minister Chrystia Freeland.

“We are talking about price caps or a price exception that would ...