The United States did not rule out that sanctions against Russia could become excessive

According to Washington, despite “thousands of sanctions,” Moscow is likely toearns more profits due to rising fuel prices

The United States is concerned that anti-Russian sanctions imposed against the backdrop of a special operation in Ukraine may become excessive, Deputy Treasury Secretary Wally Adeyemo said during a speech at a congressional hearing broadcast by C-SPAN.

“In the United States alone, we have imposed a thousand sanctions against Russian structures and individuals,” he added.

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In addition, according to Adeyemo, since the beginning of the military operation in Ukraine, Moscow has probably increased its oil revenues. “We know that today RUSSIA is selling less oil in terms of barrels than before the invasion [of Ukraine], but due to rising prices, it can make more profit,” the deputy minister said.

He noted that the United States is discussing with allies and partners the prospects for introducing a ceiling on purchase prices for oil from Russia, as well as exchanging data on the assets of Russian businessmen around the world.

The White House announced the discussion in the G7 of the price limit for oil from Russia Economics

The US imposed an oil and gas embargo on March 8. In announcing this, US President Joe Biden acknowledged that such a decision would lead to an increase in gasoline prices in the United States, but at the same time stated the need to "put pressure" on Russian President Vladimir Putin because of the military operation in Ukraine. Later, the EU joined the sanctions against Russian oil. The ban includes the supply of raw materials by sea, and countries dependent on Russian oil imports will continue to receive it through the Druzhba pipeline.

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US Treasury Secretary Janet Yellen said earlier that Washington is interested in Russian oil entering the world market, as this will help keep prices down and avoid a recession. On May 20, Yellen announced that the G7 countries discussed the creation of a cartel of buyers of Russian oil to control the increase in fuel prices. It is assumed that within its framework a price ceiling will be set, which will allow the West to reduce Russian budget revenues from oil sales without causing "too much burden on the world economy."

Russian Foreign Minister Sergei Lavrov ruled out budget losses this year due to restrictions on Russian oil supplies by sea. According to him, oil markets do not obey political "orders", and Moscow has alternatives to the European market, where it is increasing supplies. The Kremlin, speaking of the embargo by the EU, warned that such a decision would "hit everyone." According to Deputy Prime Minister Alexander Novak, in the event of a ban, world oil prices could jump to $300 per barrel.