Moscow. July 2nd INTERFAX.RU – South Korean Finance Ministers Choo Kyung-ho and US Janet Yellen discussed Washington’s proposal to impose cap prices on Russian oil as part of sanctions against Moscow, the Yonhap news agency reported , citing the South Korean Ministry of Finance.

Treasury Secretary Joo Kyung-ho and US Treasury Secretary Janet Yellen held a telephone conversation to discuss the matter ahead of the US secretary’s scheduled trip to South Korea on July 19-20, according to the ministry.

It notes that Yellen raised „the need for capping Russian oil prices to stabilize high energy prices and reduce Russia’s oil revenues, the ministry said.” South Korean colleague Yellen „expressed understanding” of the intention of the proposed price cap and asked the US to share details if their action plan is fleshed out.”