NANTUCKET, Massachusetts (Reuters) – President Joe Biden said on Thursday a price cap on Russian oil being proposed by the United States and its Western allies was in play, adding that he had spoken to Treasury Secretary Janet Yellen on the issue.

“It’s in play,” Biden told reporters during a Thanksgiving holiday visit to a fire station on Nantucket Island.

(Reporting by Nandita Bose; writing by Lucia Mutikani; editing by Jonathan Oatis)