Price cap on Russian oil to hit EU hardest, Chinese newspaper warns ...Syria

BEIJING, SANA- A price cap on Russian oil being enforced by the European Union will boomerang on Europe itself, the Global Times reported on Monday, citing Chinese experts. Instead of envisioning a soothing impact on energy prices, European countries should ready themselves for even costlier energy bills, Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, told the Global Times on Sunday. According to Lin, Moscow is unlikely to give in to the mandate discounted price in the foreseeable future. And the EU will also be challenged to increase oil imports from the US, the expert warned. “The continent is almost destined to be crippled by a surge in oil p

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Last updated : 05 Dec 2022 clock 11:44 AM

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Price cap on Russian oil to hit EU hardest, Chinese newspaper warns ...Syria

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