The European Commission, along with key countries in the European Union, advocates for lowering the price cap on Russian oil from $60 to $45 per barrel as part of a new sanctions package against Russia. This information is reported by the Financial Times. Sources familiar with the negotiations regarding the 18th sanctions package of the EU indicate that this proposal is supported by countries such as France, Germany, Italy, and the United Kingdom, which is no longer a member of the EU.
This is reported by Finway
However, not all EU countries and partners from the G7 are ready to support this initiative. At a recent meeting of G7 finance ministers in Canada, which currently holds the presidency of the group, it was proposed to include a point about lowering the price cap in the final statement. However, according to sources, this initiative was blocked by US Treasury Secretary Scott Bessent.
The final communiqué from the G7 only stated that the countries promised to “explore all possible options to increase pressure” if Russia refuses to cease hostilities. Some countries in the European Union, including Hungary and Greece, which were previously skeptical about capping oil prices, are currently continuing to evaluate this initiative. Thus, discussions on the new sanctions package are ongoing.