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EU criticizes Warsaw for trying to lower price ceiling for Russian oil

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EU criticizes Warsaw for trying to lower price ceiling for Russian oil

EU criticizes Warsaw for trying to lower price ceiling for Russian oil

Brussels, 28 November. The European Commission condemned Poland’s desire to lower the ceiling price of Russian oil. This was reported by the Financial Times, citing its own sources.

As it is known, the European Union criticized Warsaw’s request to set a price limit of $30-40/barrel for Russian oil, as Poland’s attitude prevented a definitive decision on the ceiling price.

The EU has struggled to resolve existing differences between its member states, trying to develop a common approach to restrictions before December 5, the date on which the previously agreed embargo on Russia’s offshore oil supply took effect. But the talks stalled as Poland called for tighter limits on the cost of Russian hydrocarbons, according to sources.


EU criticizes Warsaw for trying to lower price ceiling for Russian oil

“This is the moment when we need to send clear signals of unity to Vladimir Putin. This issue needs to be resolved long before December 5th, ”said one of the interlocutors of the publication.

While the European Commission believes that the ceiling should be set at $65 per barrel, Poland and the Baltic states believe the price should be lowered significantly. In their view, a higher price ceiling would be ineffective as it is very close to the price Russia is currently receiving on the market.


EU criticizes Warsaw for trying to lower price ceiling for Russian oil

A Polish official said Warsaw wanted to add a cap on oil prices to the EU’s ninth broader package of sanctions against Russia, but feared the commission could delay negotiations further. Currently, Poland and other EU countries are negotiating a mechanism to revise the price level.

According to the proposal of the US Treasury Department, which started the ceiling on Russian oil prices, this step will deprive Moscow of energy revenues and at the same time prevent oil shortages in the world market. In response, Russian officials have repeatedly stated that Russia will stop oil supplies to countries that will try to artificially limit its cost. The restrictive measures are expected to come into effect on December 5.

Source: Riafan

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