# U.S., Japan agree to tackle currency, economic impact of Ukraine war | Reuters

> The US and Japan agreed to coordinate on the currency and economic fallout of the Ukraine war. Treasury Secretary Yellen discussed a proposed price cap on Russian oil, saying a US official had warned that oil could surge about 40% to around $140 a barrel without the cap and sanction exemptions. The US said it had not settled on a specific cap level.

- Date: 2022-07-11 · published 2022-07-11T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/40733-u-s-japan-agree-to-tackle-currency-economic-impact-of-ukraine-war-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sanctions and price-cap policy on Russian crude could tighten global oil supply and lift energy costs, which feed through to fuel, freight and fertilizer costs for feed producers. The outcome of the cap is still uncertain.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-02-24 | [Oil tops $105/bbl after Russia attacks Ukraine \| Reuters](https://feedsoft.ai/events/42853-oil-tops-105-bbl-after-russia-attacks-ukraine-reuters.md) | +18.2% | +27.0% |
| BRENT | 2018-06-26 | [Oil surges as U.S. pushes allies to halt imports of Iranian crude \| Reuters](https://feedsoft.ai/events/8778-oil-surges-as-u-s-pushes-allies-to-halt-imports-of-iranian-crude-reuters.md) | +4.4% | -0.7% |
| BRENT | 2019-03-29 | [Japanese refiners halt Iran oil imports as waiver expiry looms \| Reuters](https://feedsoft.ai/events/60284-japanese-refiners-halt-iran-oil-imports-as-waiver-expiry-looms-reuters.md) | +4.0% | +6.9% |
| BRENT | 2025-10-23 | [Putin defiant after Trump sanctions Russian oil companies over Ukraine \| Reuters](https://feedsoft.ai/events/8127-putin-defiant-after-trump-sanctions-russian-oil-companies-over-ukraine-reuters.md) | +4.1% | +1.9% |
| BRENT | 2019-04-22 | [U.S. to end all waivers on imports of Iranian oil, crude price jumps](https://feedsoft.ai/events/9604-u-s-to-end-all-waivers-on-imports-of-iranian-oil-crude-price-jumps.md) | +0.4% | +2.4% |

## Sources

- reuters.com: https://www.reuters.com/world/treasurys-yellen-japans-suzuki-discuss-weak-yen-more-sanctions-russia-2022-07-11/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.