The U.S. official said the plan allows Washington and its allies to reduce Russia's revenues while keeping oil on the market.
The U.S. Treasury Department has released new details of its long-awaited plan to impose a price cap on Russian oil, but the United States and its allies are still finalizing how much they'll pay for petroleum exports. The new guidance is meant to help firms and maritime insurers understand how to abide by the price ceiling, according to a senior U.S. Treasury official who discussed the plans on a call with reporters on November 22. The official said the plan allows the United States and its allies to reduce Russia's revenues while keeping oil on the market. To read the original story from AP, click here .