US Treasury Secretary Janet Yellen said on Thursday that the West’s planned price cap on Russian oil was already making a difference, noting that Russia was now offering China and India “huge discounts” as it sought other markets for its oil, AFP reported.
Europe will end purchases of 3 million barrels a day in December, putting additional pressure on Russia to find new buyers for its oil, Yellen told a conference organized by Atlantic magazine.
Yellen said Europe faces a tough winter with tight energy supplies as it cuts off from Russian energy.
She said it could have some impact on the United States as well, but she “didn’t overstate” the potential impact on U.S. economic growth.
Source: Hot News RO
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