Kyiv’s repeated requests for the US to tighten the price cap on Russian oil have been rejected by the White House due to concerns that new drastic measures could undercut the global economy.
The Washington Post reported on Wednesday, that Ukraine wants the Biden administration to reduce the oil price cap from $60 to $30 to put more pressure on the Russian economy, a move that would require the EU endorsement and could quite possibly undermine overall military support for Ukraine.
As America is about to head into the 2024 presidential election, Washington has so far refused to respond to such calls worried that it might roil global markets by ratcheting up sanctions.
Kyiv, on the other hand, firmly believes that sanctions would undermine Moscow’s ability to fund its army in the ongoing war in Ukraine.
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