The top US official, who is in town for the Asia-Pacific Petroleum Conference, said the objective of keeping Russian oil flowing under the cap was to ensure energy markets would not be hit by an oil price shock once a European Union ban on seaborne oil flows takes effect on Dec 5. A second ban on petroleum products is due in February 2023.
Ms Wolfram told The Straits Times on the sidelines of the event at the Raffles City Convention Centre on Tuesday: "It's important to remember that the EU and the other Group of Seven (G-7) countries, and that includes the US, will not be importing Russian oil, so we will not be the beneficiaries of the cheap oil price.
This story is from the September 28, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 28, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
‘Go on dates, parents’ student care centre takes care of kids till late
A student care centre is encouraging the parents of the children in its care to go on date nights.
Ong sets three freediving national marks in Camotes
It was the hunt for a sea turtle that took Patricia Ong into the world of freediving.
WE'VE DONE IT BEFORE: FODEN
Midfielder, who broke 50-goal barrier, says City's past will help nerves in '6 more finals'
Liverpool's title hopes suffer Hammer blow with draw
Liverpool manager Jurgen Klopp could not hide his disappointment as his side's slim English Premier League title hopes faded further on April 27, when Michail Antonio's late header earned West Ham United a deserved point with a 2-2 home draw.
HALIBURTON FLOATER SINKS BUCKS IN OT
Point guard overcomes poor shooting to hit winner in the Pacers' 121-118 Game 3 victory
Nadal eyes dream doubles pairing with Alcaraz
Rafael Nadal said it would be exciting to partner fellow Spaniard Carlos Alcaraz at the Paris Olympics and the 22-time Grand Slam champion hoped they can enter some doubles tournaments in the build-up to the Games.
Buddies Mcllroy and Lowry still among the leaders
Rory McIlroy and Shane Lowry are good friends, former Ryder Cup teammates and they have also enjoyed a dinner together with more to come according to the PGA Tour - since they touched down earlier this week for the Zurich Classic of New Orleans team event.
BATTLE OF LIM'S BIGHORN A CLASSIC
Team Meagher-Lerner-Lim show their Midas touch again in the 1400m leg of 3YO features
Why the markets have turned rocky now
Behind the turmoil are familiar culprits: inflation and interest rates, amid geopolitical tensions
The reality of being targeted by scammers daily
You open your eyes and grope for your phone. You check your inbox and discover dozens of spam email that made it past the filter.
