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Bloomberg: EU proposes capping Russian fuel oil price at $45 a barrel KXan 36 Daily News

Date: March 23, 2023 Time: 01:36:25

This was reported to the agency by sources familiar with the discussion of this topic. The restrictions are expected to go into effect on February 5, as previously thought.

The EU and G7 countries want to set maximum prices for Russian exports to third countries, but prices remain volatile and volatile, Bloomberg writes. Operations have a premium over crude oil. According to people familiar with the deals, the $45 per barrel level would apply. to discounted shipments like fuel oil.

The negotiations are complicated by the EU’s desire to achieve two objectives at once: limit Russia’s export earnings and avoid price spikes or shortages of key products on the world market.

The EU must now unanimously agree on price ceilings, which will then need to be approved by the G7. Negotiations by EU representatives are expected to start on January 27 and continue for several days.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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