The EU has not reached an agreement on the price ceiling for Russian oil, which is sought by the G7

The governments of the EU countries today failed to reach an agreement on limiting oil prices in the amount of Russia which the G7 powers want to impose Moscow as a sanction for his aggression against Ukraine and that the public bloc included in one of its repressive packages.

The ambassadors of the G27 in the EU tried to overcome the differences between the two groups: on the one hand, Greece, malt D Cyprus they fear the consequences for their cargo ships of $65 per barrel; on the other hand, Poland and the Baltic States require tougher measures with greater impact on KremlinSeveral diplomatic sources explained to EFE.

The meeting of the ambassadors continued from the beginning of the day until 21:30, when it ended without agreement. Currently, Republic Czechas rotating president Europewill try to find possible landing zones in bilateral contacts before bringing the ambassadors together again with the aim of reaching a pact before the end of the week.

The G7 cap on Russian gas prices does not directly affect the EU, which has already decided to ban purchases of Russian oil from December 5 (except from the pipeline that feeds it). Hungary), but this would damage cargo ships that transport oil from Moscowsome of which fly the Greek, Maltese or Cypriot flag.

They’re looking for stops

In particular, the G7 limit would mean a ban on insurance and reinsurance, as well as other financial services on all those ships that load Russian oil purchased at a price above the established limit, which in practice would make it difficult to purchase or transport them. them later. .

For this reason, the trident formed Greece, Cyprus D malt requires a ceiling that is above the $65 that was on the table at Twenty-seven, while Poland and the Balts, sticking to the hard line they have taken since the beginning of the aggression, believe that such a high ceiling is unlikely to harm the Russian economy.

Thus, the disagreements between members of the community club are still blocking the sanctions of the seven largest world powers, which were proposed by US Treasury Secretary Janet Yellen to reduce Russia’s revenues from crude oil exports and prevent oil prices from further growth.

Rumors emerged early this morning that the EU could reach a unanimous agreement that would allow the G7 to formally announce sanctions, pending decisions in Brussels that cut the price of Texas Intermediate Oil (WTI) at market open.

(As reported by EFE)