White House: 'We've Chosen' to Keep Russian Oil 'on the Market So Supply Is There' But We Make Sure 'We're Not Rewarding Putin Twice'

On Tuesday's broadcast of CNBC's "Squawk Box," Special Presidential Coordinator for Energy Security Amos Hochstein stated that having a price cap on Russian oil "has allowed us to keep Russian products on the market so supply is there" while limiting the amount of oil revenue Russia gets, and that the Biden administration has "chosen to have that kind of approach that will stabilize the markets for the global economy, so that we're not rewarding Putin twice."