The EU wants to cap Russian oil around $65 a barrel, but Ukraine President Zelenskyy is pushing for it to be as low as $30
While European nations weigh a price cap on Russian oil at around $65 a barrel, Ukrainian President Volodymyr Zelenskyy is pushing for about half that level.
The December 5 deadline is inching closer, though European Union governments have yet to come to a consensus on what exactly the price cap will be. Talks stalled over the weekend, andThe price cap will coincide the EU's December 5 embargo on seaborne Russian crude. The idea is to create a loophole in the EU ban that keeps supplies of Russian oil flowing on the global market while limiting export revenues for Moscow.
Earlier reports put the price cap as high as $70 per barrel. On Friday, Zelenskyy said a level that high would be a"concession" to Moscow, given that it's well above production costs.
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