EU Diplomats Meet To Impose New Russian Sanctions And an Oil Price Cap

FILE PHOTO: The Russian tanker ship Antares, seen in the Mediterranean Sea on September 29, 2015 © AFP / Alberto Pizzoli 

Bloomberg: EU Moves Closer to Russia Sanctions Deal With Oil Price Cap 

(Bloomberg) -- European Union countries edged closer to a deal on a new sanctions package, as they face strong pressure to punish Russia for escalating its war in Ukraine and illegally annexing four occupied territories there. 

The main remaining hitch has been agreeing on the details of a price cap on Russian oil sales to third countries, where the bloc has faced pushback from a few seafaring nations. 

“We have preliminary political agreement on the package, with capitals having until 10 a.m. to confirm,” Polish ambassador to the EU, Andrzej Sados, told reporters. 

The final details of the package are still in some flux. Greece, Cyprus and Malta, which have large shipping industries and have expressed concerns about curbs on transporting Russian oil, are pushing for exemptions in the package, according to people familiar with the matter. 

Member states still need to formally approve the deal, which could happen as early as Tuesday.  

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WNU Editor: There is push-back from Greece, Cyprus and Malta to an oil price cap .... Brussels Playbook: Sanctions haggling — Macron-Scholz meetup — EU-Israel buzz dims (Politico). RT explains why even if an oil price cap is imposed, it will not impact Russian oil exports .... EU split on Russian oil price cap escalates – Politico (RT).