West considers three options for Russian oil – media
Officials from the US and EU are reportedly discussing measures Brussels can take to effectively curb oil imports from Russia and slash the revenues Moscow receives.
The options include a ban, a price cap, and a payment mechanism that would allow revenue generated from crude oil to be withheld from the heavily sanctioned country, according to people familiar with the matter, by Bloomberg.
The US is reportedly concerned that an outright EU ban on Russian oil could send prices skyrocketing, only boosting Moscow’s revenue. On Thursday, US Treasury Secretary Janet Yellen confirmed that a full embargo could hurt European economies hard without creating as much impact on Russia as planned.
Brussels is expected to put forward proposals for EU members to discuss as soon as next week. A consensus for a limited ban on crude would be easier to reach than restricting imports of diesel and other products.
Western Options (Article Above)
1) Energy Ban
2) Setting a price cap for buying Russian Oil
3) Western escrow account to hold payments
Not only is the West considering an escrow account for payments. They also want the ability to set the price of Russia oil being shipped to the West at a discount. These guys aren’t clowns. They are an entire circus.