BRUSSELS — The EU is pushing to freeze its price cap on Russian oil purchases for another six months, while allowing for a review after three months, two national diplomats and a Council official told POLITICO.
EU ambassadors will discuss the proposal Friday — part of a 21st package of sanctions against Russia — ahead of a decision by foreign ministers Monday.
The cap now stands at $44 per barrel, meaning EU companies cannot buy oil above that price.
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The ceiling includes a dynamic mechanism that triggers a recalculation every six months.
