The price of Russian oil for the EU
2022.11.25 10:26
The price of Russian oil for the EU
Budrigannews.com – According to people familiar with the situation, European Union diplomats are scheduled to meet on Friday evening to determine whether they can reach a final agreement on a price level to limit Russian oil exports.
The coalition has been secured in a battle about how severe the cost cap, which would be executed with the Gathering of Seven, ought to be.Poland, for example, said that the EU executive branch’s proposal to set a limit of $65 per barrel was too generous to Russia. Greece is one of the other nations that does not want to fall below that level.
The individuals, who requested anonymity in order to discuss sensitive negotiations, stated that diplomats are hopeful that they can conclude a deal on Friday.With EU sanctions against Russian oil set to take effect on Dec. 5, the group is under pressure to meet deadlines.
According to two people, member states were considering including a regular price review as a possible compromise.
The US first proposed the price cap, which aims to keep Russian oil flowing while reducing revenue for Moscow. Moscow is already selling its oil at a discount, so a price cap at that level would allow for business as usual, according to critics of the levels proposed thus far.
