4 h. ago EU Abandons Proposal to Lower Price Cap on Russian Oil to $45

The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that the US won’t back tougher sanctions due to rising crude prices.

Economics

4 d. ago EU Faces Struggle to Cut Russia Oil Price Cap on Mideast Risk

The European Union faces an uphill struggle to lower the Russian oil price cap after US opposition at the Group of Seven summit and a crude price spike driven by Iran-Israel tensions.

Economics

1 week ago EU seeks to lower a price cap on Russian oil and discourage Nord Stream pipeline investors

BRUSSELS (AP) — The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of extra profits to fund its war in Ukraine as part of a new raft of sanctions aimed at forcing Moscow to the negotiating table, senior officials said on Tuesday. EU foreign policy chief […]

Economics

1 week ago EU Proposes Cutting Oil Price Cap to $45 to Hit Russian Revenue

The European Union proposed banning the Nord Stream pipelines and cutting the Group of Seven oil price cap to $45 as part of a new sanctions package that aims to increase pressure on Moscow to end its war against Ukraine.

Economics

3 w. ago EU Weighs Cutting 20 Banks From SWIFT in New Russia Sanctions

The European Union is considering cutting more than 20 banks from SWIFT, the international payments system, as well as lowering a price cap on Russian oil and banning the Nord Stream gas pipelines as part of a new sanctions package that aims to increase pressure on Moscow to end its war against Ukraine.

Events

4 w. ago UK Urges Cut to Russian Oil Price Cap at G7 to Pressure Putin

The UK urged its Group of Seven allies to agree a cut to the price cap on Russian oil, saying the move is necessary to put further pressure on President Vladimir Putin to end Russia’s war in Ukraine.

Politics