The European Union (EU) is exploring the possibility of imposing a price cap of US$100 per barrel on Russian diesel fuel. It has been reported Bloomberg By citing sources familiar with the subject.
As the agency noted, the EU and the G7 (G7) want to set ceiling prices for Russia’s exports to third countries, but the final figures are still subject to change. According to Bloomberg, the limit of $100 per barrel will apply for petroleum products such as diesel, while the limit for discount fuel oil, for example, will be $45 per barrel.
It is noted that negotiations on this issue have been complicated by the EU’s desire to balance two competing goals: limiting Russia’s income and preventing price increases or shortages of essential products on the world market. According to Bloomberg sources, the EU will then have to unanimously agree on price ceilings that must be approved by the G7.
According to the agency, EU diplomats will begin discussing the price ceiling on January 27, and the active course of negotiations is expected to take several days. The material also highlights that the European Union will seek to tighten anti-Russian sanctions, as well as impose tighter restrictions on revenue from Russia’s oil exports.
Earlier, the spokesperson for the press service of the European Commission continues Discuss with the G7 a price cap for oil products from Russia. According to him, the price ceiling for petroleum products could come into effect on February 5th.
Source: Gazeta
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