will start European Union import ban Russian oil Delivered by sea on December 5, and coordination is underway with the Group of Seven to impose a price ceiling on the sale of Russian crude oil, in order to reduce Moscow’s oil revenues.
Governments divided European Unionat the level at which a maximum price will be set Russian oil Limit Moscow’s ability to pay for war in Ukraine without causing a shock to global oil supplies. The maximum price will take effect on December 5th.
Poland, Estonia and Lithuania are pushing for a cap much lower than the $65-70 per barrel proposed by the Group of Seven, while Greece, Cyprus and Malta have been pushing for a higher cap or some form of compensation for the expected loss in their large maritime sector.
Quoted from Sky News
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