A proposal to lower the existing oil price cap could see Moscow lose $650 million per month, sources claim Three European Union members want to push the price of Russian oil below the current $60 limit, in a bid to reduce Moscow’s income from crude sales, Bloomberg reported on Tuesday. Estonia, Lithuania and Poland want to reduce the price cap to $51.45 per barrel, sources told the media. According to the countries’ calculations, the measure would put Russia’s oil at 5% below market prices and drive its revenue down by $650 million per month. The campaign by some EU states to lower the oil price ceiling was also s
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