EU Nears Price Cap Agreement On Russian Seaborne Oil ...Middle East

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EU Nears Price Cap Agreement On Russian Seaborne Oil
source : OILPRICE ( Middle East ) () 20
EU governments have tentatively agreed on a $60 a barrel price cap on Russian seaborne oil aimed at reducing Moscow's ability to finance its war in Ukraine. "The price cap is set at $60 with a provision to keep it 5 percent below market price for Russian crude, based on [International Energy Agency] figures," an EU diplomat said, according to Reuters on December 1. U.S. Deputy Treasury Secretary Wally Adeyemo said he was encouraged by the news about the tentative agreement on the price cap -- an idea supported by the United States and the other…

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