U.S. officials and the European Union are in talks over steps the EU could take to restrict oil imports from Russia and cut the income that Moscow makes from sales, according to people familiar with the matter.
The options discussed include a ban, a price cap and a payment mechanism to withhold revenue that Russia’s generated since the start of the war in Ukraine, said the people, who asked not to be identified because the conversations are private.
The goal of the talks is to figure out how to hit Russian President Vladimir Putin as hard as possible, one of the people said.