European Union officials set Russian oil price cap at $60 a barrel

Summary by Euronews

European Union countries agreed on Friday to cap the maritime trade of Russian oil at $60 per barrel, building upon an initiative by the Group of Seven (G7) to further weaken the Kremlin's ability to wage war on Ukraine.

Published 4 months ago

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Times of India

EU tentatively agrees $60 price cap on Russian seaborne oil

The agreement still needs approval from all EU governments in a written procedure by Friday. Poland, which had pushed for the cap to be as low as possible, had as of Thursday evening not confirmed if it would support the deal, an EU diplomat said.

4 months ago·Mumbai, India

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BBC News

Ukraine war: G7 and allies approve cap on price of Russian oil

The G7 agrees a cap of $60 a barrel on exported Russian crude, after the EU gave its backing.

4 months ago·United Kingdom

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News18 India

G7, EU Decide to Cap Russia Oil Prices at $60-per-Barrel to Stop War Funding

The G7 and EU on Friday agreed a $60-per-barrel price cap on Russian oil in an attempt to deny the Kremlin of war resources, as President Vladimir Putin said more strikes on Ukrainian infrastructure were "inevitable"

4 months ago·India

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The Guardian

EU states agree $60 a barrel cap on Russian oil after Polish green light

Poland, which was pushing for low cap, says deal will keep it at least 5% below market rateEuropean Union member states have agreed to put a $60 a barrel price cap on Russian oil after Poland, which was holding out, gave the green light to the deal.In an effort to reduce the Kremlin’s income from fossil fuels, the EU has agreed to limit the amount that can be paid for seaborne oil to diminish Moscow’s ability to finance its war in Ukraine. Conti…

4 months ago·London, United Kingdom

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Reuters

G7 coalition agrees $60 per barrel price cap for Russian oil

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day.

4 months ago·United Kingdom

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The Hindu

G-7 joins EU on $60-per-barrel price cap on Russian oil

Europe is already mired in an energy crisis, with governments facing protests over the soaring cost of living, while developing nations are even more vulnerable to shifts in energy costs.

4 months ago·India

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