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EU's Floating Price Cap Proposal on Russian Oil: A New Sanction Strategy
EUROPEAN UNION, JUL 13 – The new EU price cap will be set 15% below the 22-week average Russian crude price to reduce Moscow's oil revenue financing the Ukraine war, replacing the fixed $60 limit.
12 Articles
12 Articles
Representatives of the European Union countries at a meeting on Sunday, July 13, moved closer to agreeing on the 18th package of sanctions against Russia, which will include lowering the price limit on Russian oil exports.
EU's Floating Price Cap Proposal on Russian Oil: A New Sanction Strategy
The European Commission has suggested a floating price cap on Russian oil, targeting 15% below the average market price over three months. This initiative aims to further limit Russia's war financing capabilities. Technical details remain to be finalized, with unanimous agreement required among EU member states for implementation.
intellinews.com
MSNEC proposes floating Russian oil cap rate at 15% below global price
The European Commission has proposed a floating price cap on Russian crude oil set at 15% below the average global market price over the previous three months, European Union diplomats said on July 11.
For a long time it was unclear whether Europe could agree on new sanctions against the warlord Putin. Now an agreement seems in sight. Also from the US comes new sounds.
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