Russian Oil Price Cap to Stay at $60, European Governments Told
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The European Commission told member states that a $60-a-barrel cap on the price of Russian oil is proving effective in hurting the Kremlin’s access to petrodollars while not disrupting the market, and will remain unchanged for now.
The bloc’s executive arm told diplomats from the EU’s 27 member states this week that there is no willingness among most Group of Seven countries to lower the threshold at this time, according to people familiar with the matter.