EU considers price cap of $65-70 on Russian oil - Business News| Latest News & Reviews On Financial Markets | Themarkettrendz

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Wednesday, 23 November 2022

EU considers price cap of $65-70 on Russian oil

The price cap would ban companies from providing shipping and services, such as insurance, brokering and financial assistance, needed to transport Russian oil anywhere in the world unless the oil is sold below the agreed threshold. The cap plan, which is being driven by the G-7, has two aims: keeping Russian oil flowing in order to avoid global price spikes, while at the same time limiting Moscow's revenues.

from Commodities-Markets-Economic Times
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