US Treasury secretary Janet Yellen is stepping up talks with EU and G7 allies on a potential price cap or tariff on Russian oil, as Brussels struggles to reach a consensus among its member states on a full import ban.
Yellen raised the Biden administration’s ideas during a visit to the European bloc’s leaders this week and was expected to present them at a gathering of G7 finance ministers and central bank governors in Germany that starts on Wednesday.
“We discussed a wide range of options. We’re not trying to tell them what’s in their best interest, but [ . . . ] we discussed some of the things that are under consideration,” Yellen told reporters who were travelling with her in Belgium on Tuesday.
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