The European Union has decided to postpone the introduction of a price cap on oil from Russia.
This decision was made due to the fact that a number of EU countries opposed price restrictions on Russian oil.
Reports this, citing sources.
Why is the introduction of a price ceiling delayed?
According to agency sources, a number of community countries, in particular Cyprus and Hungary, opposed the introduction of a price ceiling on oil from Russia, and such decisions must be made unanimously.
It is also reported that EU countries have not yet agreed on exactly what level to set the price ceiling.
Why does the EU want to introduce a price ceiling?
The US and EU embargo on Russian oil triggered a sharp rise in prices, which allowed Russia to redirect large volumes of supplies to other markets, mainly China and India.
The US and EU began to suffer losses, including secondary effects in the form of inflation, and decided to limit the price of oil from Russia.
To achieve this, the Group of Seven plans to create a broad international coalition and introduce a ban on any sea transportation of oil from Russia if it is sold at a price above the agreed ceiling.
