U.S. Treasury's Yellen says Russian oil price cap not determined yet

U.S. Treasury Secretary Janet Yellen participates in a discussion at the annual Freedman's Bank Forum at the Treasury Department in Washington, U.S., October 4, 2022. REUTERS/Michael A. McCoy/File Photo

WASHINGTON, Oct 14 (Reuters) - U.S. Treasury Secretary Janet Yellen said the exact dollar level of a price cap on Russian oil had not yet been determined, but insisted she had not suggested a price in the $60 per barrel range was being actively considered.

Yellen said there was wide agreement among international finance officials at the annual meetings of the International Monetary Fund and World Bank that Russia should stop its war against Ukraine, which is having serious negative consequences for the global economy.

Yellen told a news conference the exact level of the oil price cap would be determined together with other countries in the coalition in line with several benchmarks and could be adjusted. No decision had yet been made, she said.

Reporting by Andrea Shalal and David Lawder

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