Shaheen Backs Lowering Price Cap on Russian Oil
Senate Foreign Relations Committee ranking member Jeanne Shaheen, D-N.H., said June 18 that the Trump administration should have agreed at this week’s Group of Seven summit in Canada to lower the international price cap on Russian oil.
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Speaking at a committee hearing on the upcoming NATO summit, Shaheen said a cap reduction would have “put more pressure” on Russian President Vladimir Putin, who uses oil revenue to fuel his war machine. Following Russia’s 2022 invasion of Ukraine, the G7 set the price cap at $60 a barrel (see 2212050014).
The White House didn’t immediately respond to a request for comment on Shaheen’s remarks.
Shaheen also reiterated that the Senate should pass a broadly supported bill that could lead to additional sanctions on Russia (see 2506170076 and 2506100057). “I think we should get that done as soon as possible,” she said. The legislation is intended to spur Moscow to reach a peace deal with Ukraine.