Three European Nations Push for Lower Price on Russian Oil Cap
- Estonia, Lithuania and Poland want to cut price cap to $51.45
- Russian oil price limit is due for EU review this month
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A group of three European Union countries are calling to lower the price cap on Russian oil this month in a bid to further undermine the financing of President Vladimir Putin’s war machine.
Estonia, Lithuania and Poland proposed that the cap, which was set at $60 dollar per barrel in December, be cut to no more than $51.45, according to people familiar with the matter. That would put it 5% below market prices, they argue.