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US seeks to keep Russian oil flowing to market but limit Moscow’s revenue — Yellen

Russia is now making more money selling oil and gas than before the West started imposing sanctions, Senator Bill Cassidy also pointed out

WASHINGTON, June 7. /TASS/. The US authorities are seeking to ensure that the supply of Russian oil to the world market continues, but the revenue of Moscow from it is limited, US Treasury Secretary Janet Yellen said at a hearing in the Finance Committee of the Senate of the US Congress on Tuesday.

As republican Senator Bill Cassidy noted, Russia is now making more money selling oil and gas than before the West started imposing sanctions. He said that in this situation the EU countries are considering the possibility of uniting into a buying bloc in order to limit the price at which they will buy Russian oil. The legislator asked Yellen whether the US administration is involved in the discussion of such measures.

Yellen responded that Washington is involved in "extremely active" discussions with the EU aimed at limiting the revenues Russia can generate by selling oil.

Yellen told the Senate Finance Committee that US officials were keen to keep Russian oil flowing into the global market.

"But absolutely the objective is to limit the revenue going to Russia," she said.

On February 24, Putin announced that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation. The Russian leader stressed that Moscow had no plans of occupying Ukrainian territories. After that the US, the EU, the UK and a number of other states announced that they would impose sanctions against Russian legal entities and individuals. They also intensified supplies of weapons to Kiev.