The White House welcomes the news that the European Union is “coming together” by reaching an agreement on the imposing a price ceiling of $60 per barrel of Russian oil transported by sea, with the US presidency stressing that it remains convinced that the European deal will help curb Russian revenues.
“We still believe … that a price cap will help limit Putin’s ability to make a profit from the oil market, so he can continue to fund a war machine that continues to kill innocent Ukrainians,” the National Security Council spokesman told reporters. John Kirby.
The US official emphasized that Washington believes that $60 per barrel is the appropriate level for a price ceiling and will allow the desired result. “We think it’s the right level and we think it will have a positive effect.”
Kirby added that the intent of the price cap was always twofold – to limit the ability of of Russia to benefit from oil sales while helping balance supply and demand.
“Just a month or so ago, the indications were that Putin charged $100 a barrel, so that’s going to be a significant drop,” Kirby said, adding that coalition partners reserve the right to adjust the price cap in the future.
Source: News Beast
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