The Europeans could not set a ceiling for Russian oil

According to the correspondent of Fars News Agency, Reuters quoted European diplomats and wrote: The European Union governments did not reach an agreement on setting a price ceiling for Russian oil yesterday, while Poland insisted that this price ceiling should be lower than the figure proposed by the Group of 7. be less “There is no agreement, the legal texts have been agreed, but Poland will not agree to this price,” said a diplomat. A new date for negotiations has not yet been set, even though we are getting closer to the price cap mechanism coming into effect on December 5.

According to the Polish diplomat; If no agreement is reached on the proposed G7 price ceiling by next Monday, the EU will implement tougher measures agreed at the end of May. These measures include a ban on the import of Russian crude oil from December 5 and petroleum products from February 5.

The Group of 7 has the softest version of the EU for Russian oil, as Russia supplies 10 percent of the world’s oil. The group suggested that the European Union and European customers continue to buy Russian oil, provided that the price of the purchased oil is equal to or below the level set by the Group of 7.

The Group of 7 has proposed a price of 65 to 70 dollars per barrel for Russian oil, Poland and some European countries believe that this figure will not harm Moscow, while the plan is designed to reduce Moscow’s revenues.

“The Poles are not flexible at all when it comes to setting prices without offering an acceptable alternative,” said the EU diplomat. “It is clear that dissatisfaction with Poland’s position is growing.”

Malta, Cyprus and Greece were concerned that the G7’s proposed price cap would be too low, hurting their large shipping industries, but diplomats said they won concessions in the legal texts and no longer stand in the way of a deal.

According to this plan, shipping and insurance companies in the world are prohibited from providing services to oil shipments above the price ceiling set by the Group of 7.

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