White House welcomes EU progress on Russian oil price cap

The White House on Friday welcomed news that the European Union was "coming together" on a $60 per barrel price cap on Russian seaborne oil, and said the deal should help limit Russian revenues.

"We still believe ... that a price cap will help limit Mr. Putin's ability to profiteer off the oil market so that he can continue to fund a war machine that continues to kill innocent Ukrainians," national security spokesman John Kirby told reporters.