The price cap plan agreed to by G7 wealthy nations calls for participating countries to deny insurance, finance, brokering, navigation and other services to oil cargoes priced above a yet-to-be-determined price cap on crude and oil products.
Yellen said the price cap is aimed at lowering revenue Russia could use to wage war in Ukraine while maintaining Russian oil supplies to keep global prices down.
The knowledge and talent of the wealthy nations, the G7, screwing up the world and their countries by, limiting, manipulating and raising the prices of energy that they need the most to maintain their above poverty level of living.
The knowledge and talent of the wealthy nations, the G7, screwing up the world and their countries by, limiting, manipulating and raising the prices of energy that they need the most to maintain their above poverty level of living.
Inflation already hit the USA, UK, and others by 9 percent. That is following by increase interest rate to counteract the inflation driving the economies right to few years of recession.
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