Yellen Says Softer Oil Market Could Mean More Action on Russia

The transcript discusses the administration's consideration of new sanctions on Russian oil, focusing on impairing Russia's ability to continue its war efforts by targeting oil revenue. It highlights creative policy measures like the price cap on Russian oil, which helped maintain market stability. The current global oil market is well-supplied, with low prices and increased production from American firms and OPEC countries, presenting opportunities for further action.

What is the overall aim of the sanctions being discussed against Russia?

How has the U.S. Treasury been involved in managing Russian oil revenue?

What creative policy was devised to manage the price of Russian oil?

What impact have the sanctions had on Russia's ability to transport oil?

What unusual conditions are present in the oil market at this moment?