The price cap of $60 per barrel for Russian oil is not going to have a long-term effect on global oil prices, National Security Council spokesman John Kirby said on Monday
WASHINGTON (Pakistan Point News / Sputnik - 05th December, 2022) The price cap of $60 per barrel for Russian oil is not going to have a long-term effect on global oil prices, National Security Council spokesman John Kirby said on Monday.
"We don't believe that (the oil cap is) going to have any impact long term on global oil prices," Kirby said at a press briefing.
The move is not intended to remove Russian oil from the market, the White House reaffirmed.
The G7 price cap of $60 per barrel for Russian crude took effect on Monday.
