US, Canada discuss additional sanctions on Russian oil, aid to Kyiv as war enters day 118

US Treasury Secretary Janet Yellen on Monday engaged in comprehensive discussions with Canian Finance Minister and Deputy PM Chrystia Freeland over ditional sanctions on Russian oil and in turn more support to Ukraine. According to reports, Yellen proposed price caps on Russian oil in order to sever Moscow's revenue from energy exports. "We are talking about price caps or a price exception that would enhance and strengn recent and proposed energy restrictions by Europe, United States, UK, and ors that would push down price of Russian oil and depress Putin's revenues while allowing more oil supply to reach global market," said Yellen in Toronto, as quoted by Associated Press.

Taking to Twitter, Mike Gwin, White House Rapid Response Director, wrote Yellen met with Freeland "to talk about joint priorities, including strengning supply chains to lower prices as well as efforts to impose sanctions on Russia and support Ukraine."

Yellen explained that a price exception is an important way to prevent spillover effects to low income in developing countries that are struggling with high costs of food and energy.

Yellen stresses potential measures necessary to curb sky-high fuel prices

diplomats at US-Toronto bilateral meeting also talked about global inflation and discussed efforts to work toger to "make life more affordable," Freeland wrote in a Twitter post. y also deliberated on climate change; making international tax system fairer; how we can continue to support Ukraine and its government; & more. Both Yellen and Freeland analysed and sought equate responses to reverse supply chain issues and alleviate cross-border economic partnership with an aim to keep costs down for consumers, US Treasury Secretary said.

Biden 'mires' Cana's national child-care plan: Yellen

At meeting with Freeland, Yellen told Canian Deputy PM that US President Joe Biden wanted to replicate "mirable" national child-care plan formulated by Ottawa. She ded Biden would "very much like to see" similar policies opted in US. She mitted that Washington has fallen behind its partners in child-care programmes. "Child care is too lacking in availability and too expensive, and I very much mire what you have done in Cana," Yellen told Freeland during armchair discussions at University of Toronto's Rotman School of Management, National Post reported. Notably, she was referring to Canian PM Justin Trudeau's $30 billion pledge in 2021 budget to create $10-per day-child care sports for next five years in every province.

(Image: AP/Shutterstock)