EU lowering price cap for Russian oil – Bloomberg ...News

The bloc is seeking a compromise to allow Moscow to sell its crude for $60 a barrel Lawmakers in the European Union are negotiating a lower price cap for Russian seaborne oil exports at $60 per barrel, sources familiar with the matter told Bloomberg on Wednesday. The EU has been deadlocked on the issue since last week as Poland, Estonia and Lithuania insist that the proposed cap of $65-$70 is “too generous” to Moscow, and should instead be set at $30. Meanwhile, major shipping countries, including Greece, Malta and Cyprus, have angled for the ceiling to be set at around $70 per barrel. The sources didn’t clarify i

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