Source: EU to set price cap for Russian oil at $62 level

MOSCOW, Nov 30 (PRIME) -- The E.U. is likely to set a price cap for Russian oil at U.S. $62 per barrel despite calls from Poland and the Baltic states to lower it, a source in Brussels told PRIME on Wednesday.

“The European Commission originally proposed $65–70 per barrel as a price cap for Russian oil. The latest proposal, after recent negotiations, was at $62,” the source said.

“However, some member countries, including Poland, are pushing for further reduction. The latest talks are near and even slightly below $62, which I think is probably closer to the final figure the E.U. will accept,” the source said.

The source also said that even if the E.U. states are unable to resolve disagreements over the price cap, the European Commission is unlikely to postpone the deadline for an embargo on Russian oil imports by sea.

End