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EU Talks on Russian Cap Remain Divided

OIL

EU government representatives will resume talks on the level of a price cap on Russian seaborne oil on Friday evening according to diplomats speaking with Reuters.

  • "The latest is that Poland, Estonia and Lithuania are trying to outdo each other on their toughness on the price cap," one of the diplomats close to the talks said.
  • "Meanwhile Malta, Greece and Cyprus are in it for the money, whichever way they can get it - through a higher cap, or compensation, etc. So positions are still very far apart and the U.S. is nowhere to be seen to bring the two sides together," the diplomat added.
  • Greece, Cyrpus and Malat were pushing for a higher end cap because of their strong shipping industries that could potentially benefit from moving Russian oil as part of the deal.
Energy BulletsCommodities
Energy BulletsCommodities

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