The US and its allies plan to agree on the Russian oil price cap.
Wednesday, November 23, 2022

The US and its allies plan to agree on the Russian oil price cap.

The United States, the European Union, and the G7 countries intend to reach a joint agreement on November 23 to set a maximum price for Russian oil, which could range from $60 to $70 per barrel. Currently, negotiations on the maximum price for Russian oil are ongoing, and the limit may be set as high as $70 per barrel, the WSJ says. It is noted that the ambassadors from 27 EU member states will meet on Wednesday to reach a final agreement on the price. At the same time, the EU must agree on a ceiling price unanimously, and according to preliminary estimates, this may be difficult. Meanwhile, the G7 countries also plan to approve the restrictions synchronously with the European Union.

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