°C
2
Min
German Chancellor Olaf Scholz said on Wednesday he was “very confident” the European Union would soon agree on a price cap for Russian oil as negotiations were underway in Brussels.
Scholz ‘very confident’ EU will soon agree Russian oil price cap
BERLIN, Nov 23 (Reuters) – German Chancellor Olaf Scholz
said on Wednesday he was “very confident” the European Union
would soon agree on a price cap for Russian oil as negotiations
were underway in Brussels.
The Group of Seven nations (G7) is looking at a price cap on
Russian sea-borne oil in the range of $65-70 per barrel, a
European Union diplomat said earlier on Wednesday.
Ambassadors from the 27 EU countries are discussing the G7
proposal with the aim of reaching a common position by the end
of the day. Views in the EU are split, with some pushing for a
much lower price cap and other arguing for a higher one.
The G7, including the United States, as well as the whole of
the European Union and Australia, are slated to implement the
price cap on sea-borne exports of Russian oil on Dec. 5.
