BERLIN, Nov 23 (Reuters) – German Chancellor Olaf Scholz mentioned on Wednesday he was “very confident” the European Union would soon agree on a price cap for Russian oil as negotiations had been underway in Brussels.
The Group of Seven nations (G7) is a price cap on Russian sea-borne oil within the vary of $65-70 per barrel, a European Union diplomat mentioned earlier on Wednesday.
Ambassadors from the 27 EU nations are discussing the G7 proposal with the purpose of reaching a typical place by the top of the day. Views within the EU are break up, with some pushing for a a lot decrease price cap and different arguing for the next one.
The G7, together with the United States, in addition to the entire of the European Union and Australia, are slated to implement the price cap on sea-borne exports of Russian oil on Dec. 5.
The transfer is a part of sanctions supposed to slash Moscow’s income from its oil exports in order that it has much less cash to finance its invasion of Ukraine.
Russia should finish its “bombing terror” towards Ukraine’s civilian inhabitants, Scholz mentioned throughout a information convention. It may not win the battle on the battlefiled so ought to cease the killing and make method for peace negotiations, he mentioned.
Reporting by Andreas Rinke and Sarah Marsh
Editing by Mark Potter
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