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The Independent UK
The Independent UK
National
Via AP news wire

Yellen warns of failure to agree on Russia oil price cap

Janet Yellen Oil Russia Kremlin Economy
Copyright 2022 The Associated Press. All rights reserved.

Treasury Secretary Janet Yellen on Wednesday warned that a failure to place a price cap on Russian oil would hurt the global economy.

“Without a price cap, we face the threat of a global energy price spike if the majority of Russian energy production gets shut in," Yellen said at the start of a meeting with her British counterpart, Nadhim Zahawi.

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