The U.S. Opposes Lowering the Price Cap on Russian Oil

• The U.S. is against the G7 initiative to lower the price cap on Russian oil.
• The EU and the UK are considering lowering the cap without U.S. involvement.
• Ukraine has called for a reduction of the price cap to $30 per barrel.

This was reported by Ukrayinska Pravda, RBC Ukraine.

The United States is opposing the G7 countries' initiative to lower the price cap on Russian oil. This complicates the efforts of the European Union and the United Kingdom to use this tool to increase pressure on Russia.

Source: Bloomberg

Details: According to Bloomberg, the U.S. is against lowering the price cap on Russian oil, which diminishes the hopes of European leaders for reaching an agreement to reduce the price at the upcoming G7 summit in Canada.

Quote: "The final decision rests with President Donald Trump, and officials have not lost hope, according to sources who requested anonymity. But so far, there has been no movement from the position that the U.S. stated at the G7 finance ministers' meeting earlier this year."

Details: The European Union and the United Kingdom are advocating for a reduction of the price cap from the current $60 to $45 per barrel to decrease Russia's oil revenues, which it uses to finance its war against Ukraine.

According to one Bloomberg source, the EU and the UK may consider lowering the price cap without U.S. participation.

Quote: "Most Russian oil is transported near European waters, so acting independently could have some effect. But an agreement involving all G7 countries would be more effective, as it could rely on U.S. enforcement."

Context:

• The draft of the 18th EU sanctions package against Russia includes a proposal to lower the price cap on Russian oil from $60 to $45 per barrel.
• Ukraine has urged the European Union to lower the price cap on Russian oil to $30 per barrel.
• The European Union has acknowledged that even if the United States does not agree to further reduce the price cap, the EU can still implement such a measure independently.

Теги: США/Політика/Енергетика