EU tentatively agrees $60 price cap on Russian seaborne oilBy Jan Strupczewski and Kate Abnett

Reuters: 1st December 2022

EU governments have tentatively agreed on a $60 a barrel price cap on Russian seaborne oil, with an adjustment mechanism to keep the cap at 5% below the market price. This has still to be agreed by all the EU governments.

This just shows how isolated the UK has become since Brexit. We huff and puff, but where was our input. What is very obviously important to us, especially with the Cost of Living crisis, the sky rocketing energy prices here, yet we are helpless. The EU though has real influence and can force Russia’s Gand on this.


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