The European Union has postponed the decision to lower the price ceiling for Russian oil from $60 to $45 per barrel.
This was reported by Bloomberg, citing sources and the current market situation. The proposal to lower the price ceiling was part of the 18th package of sanctions of the European Commission against Russia. However, the sharp rise in world oil prices in recent weeks has complicated the achievement of consensus among EU member states.
Against this background, as the publication notes, European Commission President Ursula von der Leyen also does not insist on an immediate reduction in the maximum price for Russian oil. According to her, in the current conditions, the price ceiling mechanism continues to perform its restraining function. “In recent days, we have seen that the price has risen, so the upper limit of the oil price is fulfilling its function. At the moment, there is no great pressure to lower the upper limit,” von der Leyen said on the sidelines of the G7 summit.
On June 16, it became known that the proposal to lower the price ceiling was under threat: EU countries cannot reach an agreement without the support of the United States. At the same time, most G7 countries are in favor of tightening restrictions, while Washington is taking a more cautious position, fearing negative consequences for the global oil market.
Initially, the European Commission proposed lowering the price ceiling for Russian oil to $45 per barrel in order to increase pressure on Moscow’s export revenues. However, in the context of rising prices for black gold, opponents of this measure are confident that Russia will lose profits anyway without additional steps.
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