In keeping with a Reuters report, the EU intends to suggest reducing the value cap for Russian Oil from $60 to $50 per barrel on the assembly of G7 finance ministers, Commerzbank’s commodity analyst Barbara Lambrecht notes.
EU needs to suggest the value cap for Russian Oil at $50 pb
“Now that Oil costs have fallen so sharply, the present cap now not takes impact and Russian exporters can utilise the standard freight charges and insurance coverage. Additional sanctions in opposition to the so-called shadow fleet — comparable to these to be adopted right now as a part of the seventeenth sanctions bundle — will then now not apply.”
