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Estonia warns it will veto EU price cap on Russian oil

11 days ago   |   By

The proposed $65-$70 per barrel limit has been called “too generous” for Moscow by Poland and the Baltic states
A price cap on Russian oil proposed by the European Commission is too high and may be blocked by Estonia, Minister of Foreign Affairs Urmas Reinsalu said on Thursday, as quoted by Estonian Public Broadcasting .
The proposal by Brussels to set a limit of between $65 and $70 per barrel on Russian sea-borne oil is insufficient, he stated, arguing that Moscow would make too much revenue at that price.
“Estonia finds that the price horizon's ambition is too low, considering that the...
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French economy at risk due to rising gas prices - energy minister

French economy at risk due to rising gas prices - energy minister

11 days ago   |   By

The country is calling for a long-term solution and says fuel-price cap will have little effect
France risks losing some of its markets and may never get them back due to rocketing gas prices and the detrimental conditions for European production they create, the country's Energy Minister Agnes Pannier-Runacher said on Thursday.
Speaking at an emergency meeting of EU energy ministers, summoned in an effort to decide on how to bring energy prices down, she criticized the European Commission's proposal to cap the price of gas, saying that it would have little effect on skyrocketing...
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Russia warns it will withdraw oil supplies to ‘price cap' countries

Russia warns it will withdraw oil supplies to ‘price cap' countries

11 days ago   |   By

Nations that join the cartel of buyers won't get any crude from Moscow, the Foreign Ministry says
Moscow will embargo countries that support the Group of Seven nations' proposed price limit on its oil, Russian Foreign Ministry spokeswoman Maria Zakharova warned on Thursday. The statement was echoed by Kremlin Spokesman, Dmitry Peskov.
According to media reports, EU diplomats are optimistic they can reach a deal on a price ceiling for Russian oil exports despite sharp splits over the plan. Ambassadors are scheduled for more talks on Thursday evening to continue their discussions, Bloomberg...
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