CNN: Europe agrees to cap the price of Russian oil at $60 a barrel
The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force.
News of the deal, which had needed approval from holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula von der Leyen, marking a key milestone in the West’s efforts to punish President Vladimir Putin without adding to stress on the global economy.
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EU Reach An agreement To Put A $60-Per-Barrel Price Cap On Russian Oil
EU reaches deal for $60-per-barrel price cap on Russian oil -- AP
EU agrees $60 Russian oil price cap, holdout Poland backs deal -- Reuters
EU agrees to price cap on Russian oil after Poland's green light -- France 24
Ukraine war: EU set to approve cap on price of Russian oil -- BBC
EU states agree $60 a barrel cap on Russian oil after Polish green light -- The Guardian
EU agrees $60 price cap on Russian oil -- Politico
EU agrees to Russian oil price cap after Polish approval -- DW
3 comments:
Sneaky little move capping it at it’s current price, so that when the price per barrel goes back up to 90+ when China comes back online the detractors won’t be able to do anything about it. When that happens the ppb will be well over 100 for the capped nations as they have no options except buying laundered crude from middlemen.
What both of the above said +10
When China comes back online price might spike to 70, 80 or higher on the spot market. Europe should be prepared to pay more unless they have long term contracts.
One day the War will end and Putin or others will escape along rat lines to China or elsewhere.
Russia will need rebuilding.
Let the cheating begin.
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