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Free AccessEU Still Discussing Russian Oil Cap Level
The EU is “ready to go” with efforts to impose a price cap on Russian oil according to Ursula von der Leyen earlier in Bali at the Group of 20 summit but added that a level for the cap had still not been decided.
- “We have set all the tools necessary in place in the European Union,” she said, adding, “It is important not only to dry out the war chest of Russia but also very important for many vulnerable countries to have an acceptable level of prices.”
- US treasury Secretary Janet Yellen said earlier that the Russian price cap will give buyers more leverage to negotiate lower prices. "We see the price cap is something that benefits China benefits India, and benefits all purchasers of Russian oil," Yellen said.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.