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EU Extends Oil Price Cap Talks as Russia Hints View May Ease

  • Some countries say $65 proposal too generous to Moscow
  • Negotiations between EU ambassadors delayed beyond Thursday
Oil pumping jacks in Sokolovka, Russia. 

Oil pumping jacks in Sokolovka, Russia. 

Photographer: Andrey Rudakov/Bloomberg
Updated on

European diplomats are locked in negotiations over how strict a price cap on Russian oil should be, revealing divisions in the bloc.

Poland rejected the EU’s executive arm’s proposed price of $65 per barrel as being too soft on Moscow. Greece, a massive player in the oil shipping industry, doesn’t want to go below $70.