A report in the Financial Times has exposed the U.S. hypocrisy on Russian oil price cap. The U.S. government has quietly told the world’s largest commodity traders to shed concerns over deals with price-capped Russian oil in an effort to ensure global supplies, as per the report. The U.S. Treasury Department officials reportedly held private meetings with the executives of some of the largest global trading companies – including Trafigura and Gunvor. FT reported that the Joe Biden administration reassured these companies that they could trade with Russia without breaching Western penalties. Watch this video for more details.
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