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EU Has No Plans To Raise Russian Price Cap

OIL

The EU has no plans to raise the Russian oil price cap from $60/bbl, despite Russian crude prices crossing that threshold, according to Energy Intelligence.

  • "There is no movement currently in the Council with the oil price cap," an unnamed diplomat from the Baltics said.
  • The price cap is officially reviewed every 2 months to ensure it is at least 5% below the average market price for Russian oil and petroleum products.

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