The G7 leaders’ pursuit of a limit on the price of Russian oil represents a significant step in advancing our twin goals of sharply reducing Russian revenue and stabilizing global energy prices. Following the leaders’ direction today, the Treasury Department will work expeditiously with our counterparts in G7 countries, and other global allies and partners, to advance this effort. Our united response to Putin’s war of aggression has already imposed historic costs on Russia’s economy and has made it harder for it to wage war against Ukraine. By working together to limit the price of Russian oil, we will further ... (full story)