The level of the price limit for Russian oil can be set on Wednesday, the EU and the G7 are ready to apply it since December.
Politico writes that the application of this rule in the EU requires the approval of all member states. The price cap should prevent shipping and insurance companies from servicing tankers carrying Russian oil unless it was sold at or below the set price, the article says.
The price ceiling for oil from the Russian Federation may be slightly higher than the range of $40-60 per barrel, Bloomberg said, citing sources and the document. In addition, the EU proposed to add a 45-day transition period to the date of introduction of this limit.
RIA Novosti (@rian_ru)