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Russia Won’t Accept $60 Price Cap on Its Oil, Kremlin Says

  • Russia analyzing the agreed threshold: Tass cites Peskov
  • EU agreed on price level on Friday after long negotiations
Bloomberg business news
EU Oil Price Cap Is Inconsequential: Vanda Insights

Russia will not accept the $60 per barrel price cap for its crude oil agreed upon by the European Union, the state news agency Tass reported, citing Kremlin spokesman Dmitry Peskov.

It was the Kremlin’s first reaction after European diplomats decided on the threshold on Russian oil Friday evening following lengthy negotiations.