The US and China discussed the ceiling of prices for Russian oil

US Treasury Secretary Janet Yellen discussed with Vice Chairman of the State Council of the People's Republic of China Liu He the possibility of introducing a ceiling on prices for Russian oil. However, no concrete decisions have been made yet, and the parties agreed to continue working on this issue. 

Analysts believe that such discussions are an attempt by the United States to interest China in the possibility of limiting Russia's income from oil sales. As you know, Yellen is touring Asian countries to discuss sanctions against Russia and the introduction of a ceiling on Russian oil prices. 

The United States has already stated that it is discussing with its allies the possibility of introducing a limit for the price of Russian raw materials at the level of $40-60 per barrel. In addition, back in June, the leaders of the G7 countries at the summit in Bavaria agreed to introduce a price limit for oil imported from Russia in the future. This agreement was caused by the concern of Western countries that the introduction of a complete embargo on Russian oil would only lead to an increase in world prices for this energy resource.

The United States also proposed to achieve a price limit for Russian oil, removing from the sanctions in the field of cargo insurance only those countries that would agree to buy it at no more than the established maximum price. In addition, the G7 countries agreed to consider the possibility of introducing a complete ban on oil transportation services from the Russian Federation until it is sold at the maximum price agreed by the international community.