echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Petrochemical News > Press: The EU plans to set a price cap on Russian oil

    Press: The EU plans to set a price cap on Russian oil

    • Last Update: 2022-10-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Bloomberg reported that after Russia announced a partial mobilization, EU countries are planning to conclude a deal within weeks to set a cap
    on Russian oil prices.

    At the same time, it was noted that there were many obstacles
    to the plan.

    Representatives of EU member states will discuss new anti-Russian sanctions over the
    weekend.
    It is reported that EU government representatives plan to reach a preliminary agreement
    on setting a ceiling on Russian oil prices before the EU leaders' informal meeting in Prague on October 6.

    EU countries have received temporary exemptions for Russian crude oil transported by pipeline, and they intend to keep those exemptions unchanged
    .
    In addition, countries that import oil by sea may attempt to link the imposition of price caps to the current projected total embargo on maritime supplies
    .
    According to Bloomberg, countries such as Greece, Cyprus and Malta may try to protect their industries from these measures
    .

    On September 13, the European Commission, the executive arm of the European Union, abandoned the idea of a price cap on Russian gas because it did not have enough support
    from the members of the alliance.
    In response to the energy crisis, the European Commission is pushing for a tax on the "excess" profits of energy companies and a cap on
    the income of generators using renewable energy.


    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.