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The 27 countries of the European Union formally approved, on December 3, the cap on the price of Russian crude oil transported by sea at $60 a barrel, as announced by the European Commission. Moscow has already assured that it “will not accept” this measure and that it will not supply oil to countries that abide by the decision.
The member countries of the community block have formally approved a cap on the price of Russian crude transported by sea at 60 dollars a barrel, the European Commission announced this Saturday.
“The G7 and all EU member states have made a decision that will further affect Russia’s income and reduce its ability to wage war in Ukraine. (…) It will help us stabilize world energy prices, which will benefit countries around the world,” EU Commission President Ursula von der Leyen said in a statement.
This fixed ceiling will impose a blockade on companies from the G7 countries that deal with insurance, reinsurance or financing of oil trade or that handle shipments of Russian crude to third countries, so they will not be able to carry out these activities unless the oil has been sold at a maximum price of $60 per barrel.
“Starting this year, Europe will live without Russian oil”
Russia refuses to accept the measure. “We will not accept this ceiling,” Russian Presidency spokesman Dmitry Peskov told reporters.
Moscow has repeatedly assured that it will not supply oil to countries that implement the cap, a stance reaffirmed by Mikhail Ulyanov, Moscow’s ambassador to international organizations in Vienna, in social media posts on Saturday.
“Starting this year, Europe will live without Russian oil,” the official said.
Zelenski rejects the measure and assures that “it is not a serious decision”
The Ukrainian president, Volodímir Zelenski, criticized the cap on the price of a barrel of oil after the agreement sealed by the countries of the European Union, the G7 and Australia.
“It is not a serious decision to put such a limit on Russian prices, which is quite comfortable for the budget of the terrorist state,” the president said.
The price of a barrel of Russian oil currently fluctuates around 65 dollars, just above the European ceiling, which implies a limited impact in the short term.
For his part, Zelensky’s chief of staff said the cap should be lowered to $30 a barrel.
With AFP and Reuters
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