Europe will be without Russian oil from this year after price cap – Ulyanov
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Fahad Shabbir
(@FahadShabbir)
Published on 03 December 2022 | 05:30 PM
MOSCOW (UrduPoint News / Sputnik – December 03, 2022) The European Union will be left without Russian oil this year after imposing a price cap on it, Mikhail Ulyanov, Russia’s permanent representative to international organizations in Vienna, said on Friday.
“Starting this year #Europe will be without Russian #oil. #Moscow has already made it clear that it will supply oil to countries that support anti-market price caps.
Wait a while. Very soon the EU will blame Russia for using oil as a weapon,” Ulyanov tweeted.
On Friday, the European Union reached an agreement on setting a price cap on Russian oil at $60 a barrel. The settlement reportedly provides a review mechanism to keep the price cap at 5% below market value. The G7 countries and Australia also agreed to cap the price of oil from Russia at $60, which will come into effect from 5 December.
