US deputy treasury secretary, UAE colleagues mull Russian oil prices cap

US First Deputy Treasury Secretary Wally Adeyemo has discussed with colleagues from the UAE attempts to impose restrictions on the cost of oil supplied from Russia, as well as issues related to sanctions against Moscow, reads a statement released on October 17 by the US Treasury Department, Report informs referring to TASS.

Adeyemo met with UAE officials, including representatives of the Central Bank, on the sidelines of the annual autumn session of the governing bodies of the International Monetary Fund and the World Bank, which was held in the American capital from October 10 to 16.

The sides discussed global macroeconomic trends, financial support for African countries and a price ceiling on Russia’s oil exports. Deputy Finance Minister Adeyemo also expressed concern about Russia's attempts to circumvent international sanctions and stressed the importance of ongoing bilateral cooperation against money laundering and terrorist financing, according to the statement.

Last week, Russian President Vladimir Putin and UAE President Sheikh Mohamed bin Zayed Al Nahyan noted at a meeting the rapid growth of trade and economic relations between the countries, Russian leader’s press secretary Dmitry Peskov told reporters.

Earlier, the EU introduced the eighth package of sanctions against Russia due to the accession of four subjects to the Russian Federation. The new package includes a legislative framework to impose a price ceiling on Russian oil and trade restrictive measures worth 7 billion euros. Putin, speaking at the Russian Energy Week forum, said that Russia would not supply energy resources to those countries that would limit their prices.