The G-7 plan to impose price caps on Russian oil exports is broadening to refined products, Catherine Wolfram, a deputy assistant secretary at the US Treasury, said on the sidelines of the APPEC 2022 conference in Singapore, Bloomberg quoted. 

Treasury and White House officials have been discussing for months a plan to set a cap on the sales price of Russian oil worldwide, a move that would reduce Russia's oil revenues, contributing to their war efforts in Ukraine. 

Wolfram said the price cap on Russian crude products would come into effect as early as February. She said the US is planning caps for high-value and low-value products.