The EU is considering imposing a cap on the price paid for Russian oil as a means of squeezing Kremlin income – Financial Times

According to the Financial Times (FT), the European Union (EU) member states are hesitant to announce an immediate ban on Russian oil imports, but they are considering imposing a ceiling on what they will pay for Russian oil as a way to cut Kremlin r

April 26, 2022 - 12:53 PM 265 views

The EU is considering imposing a cap on the price paid for Russian oil as a means of squeezing Kremlin income – Financia

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© The EU is considering imposing a cap on the price paid for Russian oil as a means of squeezing Kremlin income – Financia

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According to the Financial Times (FT), the European Union (EU) member states are hesitant to announce an immediate ban on Russian oil imports, but they are considering imposing a ceiling on what they will pay for Russian oil as a way to cut Kremlin revenues.

The analysts say imposing the European Union tariff on Russian oil would be a great alternative for Russia to cut prices and stay competitive.

Italy speaks in favor of Russia regarding the price limit set by the European Union (EU) on Russian oil, whereas Germany remains silent.

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