The Commission has decided to delay the review of the price cap, which was scheduled for 15 July, until January next year. With Urals at around $87 per barrel, the review would've gone upwards and provided relief.
Instead, the EU wants to keep it as it is now: $44.10
Jorge Liboreiro
Just in: Ursula von der Leyen proposes the 21st package of EU sanctions against Russia:
- Price cap at $44 per oil barrel
- 30 'shadow fleet' vessels
- Banks, crypto firms, traders
- Fisheries (including cod!)
- Schengen ban on soldiers
More details here.
Jorge Liboreiro
The new package of sanctions is intended to delay a scheduled review of the price cap on Russian oil, which has surged following the closure of the Strait of Hormuz, to avoid granting Moscow economic ...
