Media: The EU will not completely ban imports of Russian oil, but plans to "freeze" its price cap
According to Politico, citing unnamed diplomats, the EU is planning to "freeze" the current price cap on Russian oil within its anti-Russia measures framework, though a full import ban on Russian oil is unlikely.
Previously, Bloomberg reported that, against the backdrop of the Middle East conflict, the EU is examining the possibility of temporarily freezing the price cap on Russian oil.
The report stated: "The key proposal is to fix the price cap on Russian oil. The current cap is set to expire this summer, and without any action, it would automatically be adjusted upward."
At the same time, diplomats acknowledged that a complete ban on importing Russian oil and the proposed maritime transport ban are also unlikely.
Since December 5, 2022, the G7 has set a price cap of $60 per barrel for Russian crude oil transported by sea, prohibiting transportation and insurance for oil priced higher than that. Subsequently, starting September 3, 2025, the EU officially lowered this cap to $47.6 per barrel, with the UK, Switzerland, Canada, and New Zealand adopting similar measures. Later, the EU, the UK, and New Zealand further reduced the cap to $44.1 per barrel.
In response, Russian President Putin signed a decree banning the supply of oil and petroleum products to foreign individuals whose contracts directly or indirectly stipulate a maximum price cap.
Source: sputniknews
Original article: toutiao.com/article/1866923548015616/
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