- “The market is going to set the price so if you put sanctions on at higher prices, in a way you’re just making the situation worse, in my opinion,” Mnuchin told CNBC’s Hadley Gamble.
- G-7 nations are set to announce a fixed price cap on Russian oil that is exported through certain Western routes.
- Analysts say it will be vital for key buyers of Russian oil, India and China, to back the cap.