Subscribe to Here’s the Deal, our politics
newsletter for analysis you won’t find anywhere else.
Thank you. Please check your inbox to confirm.
Leave your feedback
The White House said they are not surprised by Russia’s reaction to the European Union oil price cap.
Watch the briefing in the player above.
“The goal of the price cap has always been to ensure that discounted Russian oil continues to flow on to global markets,” said White House Press Secretary Karine Jean-Pierre.
“And even as we limit the energy revenue that Russia is is using to fund its illegal war in Ukraine. And so we we believe we believe that the cap at this level maintains clear incentives for Russia to continue exporting. Not doing so would have serious repercussions for Russia.”
Western countries on Monday imposed a $60-per-barrel price cap and a ban on some types of Russian oil, part of new measures aimed at stepping up pressure on Moscow over the war.
READ MORE: European Union implements Russian oil price cap to limit Kremlin war chest
The Kremlin rejected the move, and Ukrainian President Volodymyr Zelenskyy has criticized it as insufficient.
Russian Deputy Prime Minister Alexander Novak, in charge of energy, warned Sunday that Russia won’t sell its oil to countries that try to apply the price cap.
The measure may also be blunted because the world’s No. 2 oil producer has so far been able reroute much of its European seaborne shipments to China, India and Turkey, although at steep discounts, and the price cap is near what Russian oil already cost.
Jean-Pierre also answered questions from reporters on Former President Donald Trump calling for the “termination” of parts of the Constitution over his lie that the 2020 election was stolen.
Trump, who announced last month that he is running again for president, made the claim over the weekend on his Truth Social media platform.
“A Massive Fraud of this type and magnitude allows for the termination of all rules, regulations, and articles, even those found in the Constitution,” he wrote. “Our great ‘Founders’ did not want, and would not condone, False & Fraudulent Elections!”
Support Provided By: