US Senators want secondary sanctions on Russian oil
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Democratic and Republican senators on Tuesday proposed that U.S. President Joe Biden’s administration use secondary sanctions on international banks to strengthen a price cap G7 countries plan to impose on Russian oil over Moscow’s invasion of Ukraine, per Reuters.
The news adds strength to the risk-aversion and exerts downside pressure on the AUD/USD prices but fails to propel the oil to the north amid recession fears.
Also read: WTI falls further ahead of the Fed
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