EU considers tightening price cap for Russian oil

© Photo: Maria Novoselova/ Vestnik Kavkaza

The EU authorities are considering the possibility of proposing to the G7 to tighten the price cap for Russian oil, the media reports. Another initiative from Brussels is to disconnect over two dozen banks from SWIFT.

The European Union is preparing new sanctions and measures against Russia, the details of which are still under discussion, Bloomberg reports, citing its sources.

According to their information, the EC intends to appeal to the G7 with calls to lower the price cap for Russian oil introduced by the Group of Seven to nearly $45 per barrel. It is currently $60 per barrel. The EU will not be able to implement this measure if the US speaks out against it.