The EU offers Price Cap to Russian oil at 45 dollars and ban on the North Stream gas pipeline

John

By John

“We propose to introduce a prohibition of transaction for North Stream 1 and North Stream 2. This means that no EU operator will be able to carry out, directly or indirectly, transactions relating to North Stream Gasmodes. We do not go back to the past. We also propose to lower the maximum roof of the oil price from 60 to 45 dollars per barrel ». This was stated by the President of the European Commission, Ursula von der leyenin a press point with the high EU representative for foreign policy, Kaja Kallas, in which he announced the 18th pack of penalties against Russia.

“From the introduction of the maximum oil roof in 2023, all prices have decreased. Now the transactions approach a lot to the level of the maximum roof. By lowering the maximum roof, we adapted to the changed market conditions and we have restored its effectiveness. Oil exports still represent a third of the Russian government’s revenue.

We have to reduce this source of revenue, “he explained. «Lowering the maximum price of the price is a measure of the G7 coalition. So, at the G7 in Canada, at the end of this week or at the beginning of the next one, we will discuss how to act together, “Von der Leyen highlighted.

Von der leyen: on Price Cap work together as G7

– On the lowering of the roof of the oil price from 60 to 45 dollars per barrel, “my belief is that we will do it together, like G7. We started this measure as G7, it was a successful initiative of the G7, and I intend to continue this measure as G7 ». This was stated by the President of the European Commission, Ursula von der leyenat the press conference by presenting the eighteenth package of EU sanctions to Russia.

«On the theme of the Price Cap on oil, we have always acted in a very coordinated way in the G7, and I await with great interest the discussion that we will have in Canada in about a week, where this theme will play a central role. Because we all know – and the Americans know it well, like all of us in the G7 – that the price of oil has fallen so much that the effectiveness of the price cap must be questioned. For this reason, we all want to lower the maximum price from 60 to 45 dollars per barrel. I can’t wait to face this discussion, “he added.