The current $60-per-barrel ceiling won’t be changed, the EC says The European Commission has informed member states that the price cap on Russian crude oil will remain unchanged, Bloomberg reported on Friday. The EC is said to have argued that the current cap has proved effective in curbing Moscow’s energy revenues, while not destabilizing the global market. The EU’s executive body reportedly told members of the bloc earlier this week that the current price limit of $60 will not be lowered by the Group of Seven (G7) nations. The measure came into force in December and bans Western corporations from providing insur
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