BRUSSELS (Reuters) – Discussions between European Union member countries that began on Friday on a price cap on certain Russian petroleum products from February 5 will likely continue next week, European diplomats have learned. .
These discussions between member states’ ambassadors to the EU are based on a proposal presented Thursday by the European Commission. The latter proposes that the Union cap the price of so-called “premium” Russian hydrocarbons, such as diesel, at 100 dollars a barrel, and set a threshold at 45 dollars for products at reduced prices, such as domestic fuel oil.
This project is part of the efforts of European countries and the G7 to dry up Russia’s sources of revenue in order to limit its ability to finance its invasion of Ukraine.
The EU and G7 countries already decided in December to cap the price of Russian oil transported by sea at $60 a barrel.
(Report Jan Strupczewsk, French version Bertrand Boucey, edited by Blandine Hénault)
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