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The EU is negotiating to close the agreement on the price cap for Russian oil

2022-11-28T14:21:34.272Z


(HANDLE) BRUSSELS, NOVEMBER 28 - "Brussels is rushing to finalize" the agreement on the price cap for Russian oil "in the next few days". The Financial Times writes it in its European edition reporting the intense negotiations underway within the EU to find an agreement between the Member States by December 5, when the previously agreed EU embargo on Russian crude oil transported will come into force by se


BRUSSELS, NOVEMBER 28 - "Brussels is rushing to finalize" the agreement on the price cap for Russian oil "in the next few days".

The Financial Times writes it in its European edition reporting the intense negotiations underway within the EU to find an agreement between the Member States by December 5, when the previously agreed EU embargo on Russian crude oil transported will come into force by sea.

At the end of last week the agreement seemed to be one step away, then the black smoke with the differences between the EU capitals that persist.

Poland - underlines the British paper - leads the countries that ask for "a much lower price ceiling than supported by the European Commission", which proposes "a limit of 65 dollars a barrel".

For Warsaw, the measure as hypothesized would have no effect since Brent crude oil, the international benchmark, is trading at about 84 dollars a barrel, but Russian oil is now trading at about 66 dollars a barrel.

The government of Mateusz Morawiecki, reports the FT, has also asked to include the maximum oil price ceiling in a broader ninth package of sanctions "but the Commission is concerned that this could further hinder the negotiations".

The summit between Russia and OPEC+ members will be held next Sunday to discuss production policies, it is "a critical week for the oil market", explains the City newspaper again, quoting the words of an EU diplomat who warns the need to "send clear signals of unity to Vladimir Putin".

Source: ansa

All news articles on 2022-11-28

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