Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.

US threatens those evading price cap of consequences: Treasury

  • By Al Mayadeen English
  • Source: Agencies
  • 9 Sep 2022 22:40
3 Min Read

In an effort to pressure states to set a price cap on Russian oil, the US Treasury has threatened those who evade it with dire consequences.

  • x
  • A view of the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka in Russia last month. (Reuters)
    A view of the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka in Russia last month (Reuters)

Those who violate the price cap on Russian oil exports will suffer consequences under the domestic law of the jurisdictions enforcing the quota, according to US Deputy Treasury Secretary Wally Adeyemo.

"Those that evade the price cap by falsifying documentation or otherwise hiding the true origin or price of the oil would face consequences under the domestic law of the jurisdictions implementing price caps," Adeyemo said during a virtual discussion organized by the Brookings Institution.

US, allies to set price cap on Russian oil above marginal production cost: Treasury

The US and its allies want to place a price restriction on Russian oil that is higher than its cost of production, according to US Treasury Deputy Secretary Wally Adeyemo on Friday.

"We intend to set the price cap above Russia's marginal cost of production at a level consistent with prices they have historically accepted," Adeyemo said during an event hosted by Brookings Institution.

Related News

US, China to resume talks in Madrid; tariffs, TikTok on agenda

China warns Philippines against provocations in South China Sea

Moreover, a number of countries outside the Group of Seven (G7) have agreed to join a coalition to impose a price cap on Russian energy in an attempt to reduce the Kremlin's revenue, according to Adeyemo.

"A number of other countries have agreed to come aboard the price cap coalition in order to make sure that we have a broader coalition that will both enforce the price cap going forward, but also a number of countries that are importers that are considering joining," Adeyemo told Yahoo News an interview.

According to Adeyemo, a coalition of countries led by the United States and other G7 partner countries will implement a price cap on Russian energy by December 5. “We’re going to put in place a price cap by December 5,” Adeyemo told Yahoo News.

Moscow has promised to stop supplying Russian oil to countries that will impose price limitations.

'No gas, no oil'

In response, Russian President Vladimir Putin said on Wednesday that Russia will stop supplying oil and gas to countries that impose price ceilings.  

Capping prices, as some Western countries are considering, "would be an absolutely stupid decision," Putin told the Eastern Economic Forum in the Pacific port city of Vladivostok.    

"We will not supply anything at all if it is contrary to our interests, in this case economic (interests)," he said. "No gas, no oil, no coal, no fuel oil, nothing."   

  • United States
  • Russian oil
  • Russia
  • Wally Adeyemo
  • US Treasury
  • Price cap

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS