Limiting oil prices! EU very close to agreement on new sanctions package against Moscow

On Monday, July 14, the European Union will reach an agreement on the 18th package of sanctions against Russia. It includes a reduction in the ceiling price for Russian oil. This is reported by Reuters, citing its sources.

A dynamic setting of the ceiling price for Russian oil is planned: it will be 15% lower than the average market price for the last six months (instead of three, as proposed by the European Commission).

According to the sources, the initial threshold will be around $47 per barrel compared to the current $60.

At the same time, it is stated that Slovakia has not yet fully withdrawn its objections to the new sanctions package. It continues to seek from the European Commission a more gradual withdrawal from Russian gas.

The final decision will be made by the EU foreign ministers at the upcoming meeting in Brussels.

We recall that earlier Slovak Prime Minister Robert Fico again demanded guarantees that his country would not be required to give up Russian energy resources - in exchange for agreeing to the new package of sanctions against Russia.

Meanwhile, Bloomberg revealed details of the calculation of the floating ceiling for Russian oil prices. Thus, the ceiling will be set at 15% below the market price for the last 10 weeks. This means that it will be reduced to about $ 50 per barrel compared to the current level.