The European Union agreed to a price ceiling for Russian oil of $60 per barrel
On December 3, the Council of the European Union, after long negotiations, approved the decision to set the maximum price for oil exported by Russia at the level of 60 USD per barrel, according to the official website of the European Council.
It is noted that this decision “will limit price spikes caused by extreme market conditions, and will also sharply reduce the revenues received by Russia from oil after it launched an illegal war of aggression against Ukraine.”
“It will also serve to stabilize world oil prices energy carriers while at the same time mitigating adverse consequences for the energy supply of third countries,” the EU Council added.