United States Deputy Treasury Secretary Wally Adeyemo (pictured) said Friday that Group of Seven officials had agreed to audit the maximum price level for Russian oil exports in March.
"The Deputies agreed that this approach will better calibrate the price cap policy for refined products, given the wide range of market prices at which these products trade," Adeyemo told coalition officials.
In early December last year, the United States, the Group of Seven, the European Union, and Australia agreed to "jointly set a ceiling on the price of Russian seaborne oil." The ceiling on oil exported by sea, which was introduced in December, is now $60 per barrel.
