EconomyAccording to media reports, the EU is considering lowering...

According to media reports, the EU is considering lowering the price cap for Russian oil


Oil pumps in the Almetyevsk region of the Republic of Tatarstan. archive photo

Bloomberg: EU Discusses Reducing Russia’s Oil Price Limit to $60 Per Barrel

MOSCOW, November 30 – RIA Novosti. The EU is considering “reducing” the oil price cap to $60 per barrel, which has been discussed due to the lack of agreement between the countries, the agency reported. Bloomberg with reference to sources.

“EU countries are discussing setting a price cap of $60 per barrel for Russian oil to help reach an agreement between a broad group of bloc’s members and the G7,” the message said.

This level has not yet been brought into official discussion.

It was previously reported that most EU countries support the proposal to limit oil prices from the Russian Federation at the level of 65-70 dollars per barrel. At the same time, according to media reports, Poland does not accept a ceiling level of $65, saying it is “too soft”, while Greece also does not want a cap level below $70 a barrel.

Commenting on the West’s idea of ​​limiting the prices of Russian energy resources, Russian President Vladimir Putin has repeatedly stated that he will not supply anything abroad if it is against Russia’s interests. Deputy Prime Minister Alexander Novak also said that Russia will only work under market conditions and will not supply oil to countries that apply ceiling prices, neither at 60 dollars per barrel nor at any other cost.

Source: Ria

I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.


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