Estonia will offer the EU to lower the price ceiling for russian oil

The head of the Estonian Foreign Ministry, Urmas Reinsalu, said that the current maximum price rate for russian oil should be lowered even more.

“We can see that this price ceiling has worked, it has not caused any global fuel crisis. Therefore, it would be wise for us to take a step and request that this price ceiling be lowered to $60 per barrel, since the real price of russian oil is now lower than this price ceiling,” Reinsalu said at the government’s press conference, Ukrinform writes.

As the head of the Estonian Foreign Ministry noted, “if we want to put pressure on russia, the price bar should be lower than the market price.”

Reinsalu also said that at the suggestion of Estonia and Poland, an agreement was reached to regularly review the price bar and for the first time such a procedure will be carried out in mid-January. In particular, the proposal to lower the price bar will be considered, the minister emphasized.

In addition, according to him, Estonia adheres to the position that Western countries should find legal ways to use frozen russian property, in particular, the reserves of the russian Central Bank to support Ukraine. According to the minister, “the aid provided by the entire Western world over the past year is significantly less than the frozen assets.”