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EU agrees to impose price cap for Russian oil - Politico

Posted On: Dec 8, 2022   |   Posted By: RT

EU agrees to impose price cap for Russian oil - Politico

The bloc promised “concessions” to overcome opposition from Malta, Greece and Cyprus
The EU has reached a tentative deal to impose a price cap on the sale of Russian oil to third countries, Politico Europe reported on Tuesday citing diplomatic sources. Cyprus, Greece and Malta had concerns about the potential impact on their shipping industry, but were reportedly promised concessions.
The price cap is part of the eighth round of anti-Russian sanctions, which Brussels is expected to roll out this week, citing the ongoing conflict in Ukraine.
EU ambassadors reached an agreement on Tuesday and expect to approve the final text on Wednesday, Politico reported citing seven diplomats - all of whom wished to remain anonymous. Details of the sanctions still need to be confirmed in writing, and there was a “limited” chance the deal could still unravel, one source reportedly said.
The three Mediterranean members were reportedly concerned about the impact of the measure on their commercial shipping, but Brussels offered...

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