Twenty-seven Russians are close to a collective decision to cap oil prices
The 27 member states of the European Union (EU) were close to finalizing a deal on Thursday evening to cap the price of Russian oil sold to third countries at $60 a barrel. Monday was mandatory, according to diplomatic sources.
The mechanism provides for a ban on maritime transport services (freight, insurance, etc.) for Russian oil beyond the ceiling, in order to limit Moscow’s revenue from deliveries to China or countries that do not impose the embargo. India. One way to cut resources is to allow Russia to fund its war in Ukraine.
The European Commission has proposed a base ceiling of $60, 5% below the market price if the latter falls below this threshold, according to diplomatic sources familiar with the matter. On Thursday, the proposal had a broad consensus among member states: they said only Poland’s agreement was missing by the end of the afternoon to ratify the mechanism.
The European Union has already decided to ban twenty-seven purchases of Russian oil by sea from December 5. The ban would eliminate two-thirds of Europeans buying Russian oil. Europeans say more than 90% of Russian imports will be affected as Germany and Poland decide to cut off pipeline supplies by the end of the year.
Since the start of the war, Russia has generated 67 billion euros in revenue from its oil sales to the EU, while its annual military budget is about 60 billion a year, underlines Phuc-Vinh Nguyen, an expert on Jacques-Vincent energy issues. Delores Company.
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