Washington is revising the terms of the Russian oil price cap mechanism in favor of softer limits with a price above the previously proposed range. This is reported by Bloomberg, citing sources.
Bloomberg reports that only the G7 countries and Australia plan to implement this mechanism, but Washington is trying to involve Norway and New Zealand in this.
According to the agency’s interlocutors, South Korea has privately informed the G7 countries that it also intends to join. At the same time, a senior official at the US Treasury Department, in response to a Bloomberg inquiry, said that the United States had never previously discussed with the allies a price cap range.
The US stance changed after “Washington spent months pressuring the Europeans to change their sanctions on Russian oil,” the agency writes. Moreover, the discussion of the American initiative takes place on the eve of the November 8 elections to the US Congress against the backdrop of rising energy prices.
It is reported that the final decision on the price ceiling will be made before December 5, when the eighth package of European sanctions against Russia, which includes the introduction of a ceiling price on oil, will come into force.
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