joining us here first on cnbc is deputy treasury secretary wally adeyemo. adeyemo, nice to see. >> you great to see you, too >> what can you tell us about where the price cap on russian oil stands and what that price might be >> sara, i can't tell you anything about the price because as we said previously it's going to be set by the coalition of countries that are part of the price cap. what we are doing is we're working closely with them at the moment to make sure that we have done the analysis that's needed to make sure that we set that price appropriately given our two overarching objectives, one which is make sure that russian oil continues to flow and the second one is to try to deny russia revenues especially the revenues they have made because the war that they have started in ukraine we've already seen this strategy be effective russian oil continues to flow today and we've seen and heard from our allies and partner that russia is getting -- is offering discounts to countries in order to sign long-term contracts in anticipation of the price cap comin