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Senior Treasury official comments on price cap on Russian oil

  • July 2, 2022
  • , Nikkei
  • JMH Summary

The Saturday edition of Nikkei wrote that Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, commented on the idea of imposing a price cap on Russian oil that was discussed at the G7 summit during an interview with the paper in Tokyo on Friday. The paper quoted him as saying that the idea is designed to restrict the revenue flow to Russia and that discussions on how to design a price cap will move forward quickly. Nelson also said that under a multilateral framework with such nations as Japan and South Korea the United States will consider additional sanctions on North Korea if it moves forward with another nuclear test.

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