EU tentatively agrees Russian oil price cap – Reuters ...News

The proposed $60 a barrel ceiling on seaborne crude from Moscow is lower than initially intended The European Union has tentatively agreed on a $60 per barrel price cap on Russian seaborne oil, Reuters reported on Friday, citing sources. The provisional deal is understood to include an adjustment mechanism to keep the cap at 5% below the market price. The agreement still needs written approval from all EU governments by Friday, the report said. According to a draft document seen by the media outlet, the bloc is set to create a mechanism that would allow for revisions of the maximum price at which Russian oil can b

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