price cap
The EU has lowered the price “cap” for oil from Russia to less than $50 per barrel
On September 3, a new restriction on Russian oil came into effect in the European Union: the price “ceiling” was lowered from $60 to $47.6 per barrel.
EU prepares to launch new price cap for Russian oil
Instead of a fixed limit, as before, a flexible mechanism tied to the market will operate.
Lithuania calls on EU to seize Russian assets and tighten sanctions against Rosneft and shadow fleet
The country is proposing several legal mechanisms to launch this process and considers further delay unacceptable.
The EU is preparing to lower the ceiling price for Russian oil – new sanctions are on the way
The new sanctions package includes an updated pricing mechanism and increased control over Russia’s shadow fleet.
European Commission to propose floating price ceiling for Russian oil
The European Commission is expected to propose a “floating” price cap on Russian oil as part of a new draft sanctions package.
Oil prices in Russian ports have fallen below the “price ceiling”
The price of Urals oil in Russian ports has fallen below the “price ceiling” of $60/barrel set by Western countries.
EU will not lower Russian oil price ceiling without G7 support
The proposal to limit the price of Russian oil to $45 per barrel will not be included in the new sanctions package due to the lack of unity among partners.
Most G7 members ready to lower price ceiling for Russian oil without US
Most G7 countries are ready to act independently and lower the “price ceiling” for Russian oil, even if the United States refuses to do so.
The G7 promises to strengthen control over compliance with the price ceiling for Rosneft
The G7 finance ministers promise to strengthen control over compliance with the price ceiling on Russian oil.
The review of the price cap on Russian oil has been postponed
The G7 countries postponed the review of the price ceiling for Russian oil, most of which is traded above the limit due to the rise in world prices.
