The EU may agree on a price ceiling for Russian oil on December 2

The European Union may come to an agreement on the price ceiling for oil from Russia on December 2. Writes about it The Wall Street Journal.

According to the publication, on December 1, the European Commission provided a new text of the agreement on price caps in order to achieve the consent of Poland. Recall that most EU countries support the maximum price for oil from Russia at $60 per barrel, while Warsaw demands $30.

The updated version of the agreement states that countries can review the price ceiling for Russian oil every two months. The main condition is that the price should be 5% below the market price.

Sources of the WSJ claim that it is planned to agree on the introduction of a price cap on December 2. However, in Europe they fear that the G7 countries will not be able to prepare for the approval of the price ceiling before the weekend.

Recall, on November 4, Bloomberg, citing sources, reported that the negotiations of the EU countries on the introduction of the proposed G7 restriction on the cost of oil from the Russian Federation reached an impasse, as the opinions of the representatives of the countries diverged. The agency noted that the Baltic countries and Poland did not want to agree on a price ceiling for Russian fuel in the region of $65 per barrel. These states considered such a proposal “too generous” for the Russian Federation.

The head of the Ministry of Industry and Trade of the Czech Republic, Josef Sikela, said earlier that negotiations on this issue would be resumed on December 13.

On November 27, the press secretary of the Russian president, Dmitry Peskov, recalled that Moscow’s position is not to trade oil and gas with countries that intend to impose a price ceiling on energy resources from the Russian Federation.