The U.S. is still “far” from reaching an international deal to impose a price cap on Russian oil exports, Biden’s senior energy adviser said, with the enthusiasm of India and China, the world’s biggest energy buyers, still limited.

But Amos Hochstein, President Biden’s special coordinator for international energy affairs, said he remains optimistic that Russia will eventually continue to produce despite price caps, in large part because “their economy has nothing to another.”

“We are already seeing evidence in the market that Russia is selling its oil at a significant discount. Therefore, we want to put this maximum. So we know that they are willing to sell it at a discount to be able to sell it because, frankly, they have cash in the bank, that’s true, but they don’t have anything else,” Hochstein said.