Poland Approves $60 G7 Oil Price Cap ...Middle East

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Poland Approves $60 G7 Oil Price Cap
source : OILPRICE ( Middle East ) () 27
Poland has agreed to a $60 price cap on Russian crude oil, Poland’s Ambassador to the EU, Andrzej Sados, said on Friday. The EU tentatively agreed on a $60 oil cap yesterday, but analysts feared that Poland—originally holding out for a much lower price cap—would refuse to sign off on a $60 cap. The G7 proposal to cap the price of Russian seaborne crude oil initially met resistance from Poland, Estonia, and Lithuania as those countries were hoping for a much lower cap—even a $20 or $30 cap. Because Poland’s ask was…

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