"When Russia took action to evade the price cap, we worked with our partners to tighten enforcement and we can take further action to increase the costs of Russia using its shadow fleet," Singh said when speaking in the Brookings Institution in Washington.
"Energy analysts and even Russian officials themselves have linked our increased enforcement activities to the increased discount on Russian oil. At the same time, Russian export volumes have remained high, avoiding the price spike that many feared in 2022," the official added.
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