Russian oil price cap frozen by EU - report

Russian oil price cap frozen by EU - report
© Photo: Maria Novoselova/ Vestnik Kavkaza

EU ambassadors have failed to agree on the 21st package of sanctions against Russia, with negotiations postponed until July 23, a diplomatic source in Brussels said.

"The ambassadors have ended their meeting on the 21st sanctions package. No compromise was reached. Negotiations will continue next week," the source said.

Moreover, the so-called price cap on Russian oil at $44 per barrel for Urals crude has been frozen for one week. "The oil price cap remains in effect unchanged until July 23 when negotiations on the 21st package will resume," the source added.

July 15 was considered in Brussels as the deadline for approving the 21st package of sanctions.

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