The European Union reached a deal on Friday to cap Russian oil at $60 a barrel, paving the way for G7 nations to launch an ‘unprecedented mechanism,’ as the Wall Street Journal reports.
The move came after overcoming a last-minute push by Poland to lower the cap, for which the European Commission had originally proposed between $65 and $70 per barrel. In short, the EU came down to Poland’s price, which had become a point of contention for more than a week.
www.zerohedge.com/commodities/eu-set-60-price-cap-russian-oil-kremlin-vows-ignore-cut-supply
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