EU states agree $60 a barrel cap on Russian oil after Polish green light
by Alex Lawson Energy correspondent from on (#66ECM)
Poland, which was pushing for low cap, says deal will keep it at least 5% below market rate
European Union member states have agreed to put a $60 a barrel price cap on Russian oil after Poland, which was holding out, gave the green light to the deal.
In an effort to reduce the Kremlin's income from fossil fuels, the EU has agreed to limit the amount that can be paid for seaborne oil to curtail Moscow's ability to finance its war in Ukraine.
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