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"Forcing Russia to sell oil at bigger discounts to India": US treasury official hails price cap policy on Russian oil, ET Auto

The United States, other G7 countries and the European Union announced a price cap of USD 60 a barrel on Russian oil in late 2022 in response to Moscow s invasion of Ukraine in February of that year. In October 2022, the US Treasury began imposing sanctions on tankers it suspected of carrying oil above the price cap, and has since designated about two dozen tankers. ....

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