{"id":203160,"date":"2025-06-21T18:26:17","date_gmt":"2025-06-21T18:26:17","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/203160\/"},"modified":"2025-06-21T18:26:17","modified_gmt":"2025-06-21T18:26:17","slug":"eu-abandons-proposal-to-lower-price-cap-on-russian-oil","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/203160\/","title":{"rendered":"EU Abandons Proposal to Lower Price Cap on Russian Oil"},"content":{"rendered":"<p>The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that the US won\u2019t back tougher sanctions due to rising crude prices.<\/p>\n<p>The EU has proposed lowering the cap to $45 per barrel from the current $60, but oil\u2019s surge following Israel\u2019s attack on Iran has complicated efforts to find unanimity among the bloc\u2019s 27 members.<\/p>\n<p>Several EU states argue that a lower oil-price cap can only work if the US supports the measure, according to officials familiar with the discussions, who asked not to be identified. It has become clear following this week\u2019s Group of Seven summit that the US isn\u2019t willing to back tougher Russia sanctions, they added.<\/p>\n<p>President Donald Trump told reporters at the meeting in Alberta, Canada, that sanctions \u201ccost us a lot of money.\u201d<\/p>\n<p>The EU package &#8211;\u00a0the bloc\u2019s 18th since Russia invaded Ukraine &#8211;\u00a0is still expected to include a ban on the Nord Stream gas pipelines linking Germany and Russia, as well as an extension of SWIFT sanctions against additional banks. EU foreign ministers will discuss the measures in Brussels on Monday.<\/p>\n<p>European Commission President Ursula von der Leyen this week appeared to draw back from the EU\u2019s proposal to lower the price cap on Russian oil, which is designed to limit Russian President Vladimir Putin\u2019s ability to fund his war on Ukraine.<\/p>\n<p>\u201cIn the last days, we have seen the price has risen so the oil price cap does serve its function,\u201d von der Leyen said on the sidelines of the G-7, where the proposal was discussed. \u201cAt the moment, there\u2019s little pressure on lowering the oil price cap.\u201d<\/p>\n<p>                                <br class=\"clear\"\/><\/p>\n<p>&#13;<br \/>\n                                    Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.&#13;\n                                <\/p>\n<p>                    element<br \/>\n\t\t\t\tvar scriptTag = document.createElement(&#8216;script&#8217;);<br \/>\n\t\t\t\tscriptTag.src = url;<br \/>\n\t\t\t\tscriptTag.async = true;<br \/>\n\t\t\t\tscriptTag.onload = implementationCode;<br \/>\n\t\t\t\tscriptTag.onreadystatechange = implementationCode;<br \/>\n\t\t\t\tlocation.appendChild(scriptTag);<br \/>\n\t\t\t};<br \/>\n            var div = document.getElementById(&#8216;rigzonelogo&#8217;);<br \/>\n            div.innerHTML += &#8216;<a href=\"https:\/\/www.rigzone.com\/\" target=\"_blank\" rel=\"noopener\">&#8216; +<br \/>\n                &#8216;<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.rigzone.com\/oil\/Areas\/localimg\/logo02_fullcolor.svg\" alt=\"RIGZONE Empowering People in Oil and Gas\" width=\"250\" height=\"60\">&#8216; +<br \/>\n                &#8216;<\/a>&#8216;;<\/p>\n<p>\t\t\tvar initJobSearch = function () {<br \/>\n\t\t\t\t\/\/console.log(&#8220;call back&#8221;);<br \/>\n\t\t\t}<\/p>\n<p>\t\t\tvar addMetaPixel = function () {<br \/>\n                if (-1 > -1 || -1 > -1) {<br \/>\n                        \/*Meta Pixel Code*\/<br \/>\n                        !function(f,b,e,v,n,t,s)<br \/>\n                        {if(f.fbq)return;n=f.fbq=function(){n.callMethod?<br \/>\n                        n.callMethod.apply(n,arguments):n.queue.push(arguments)};<br \/>\n                        if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=&#8217;2.0&#8242;;<br \/>\n                        n.queue=[];t=b.createElement(e);t.async=!0;<br \/>\n                        t.src=v;s=b.getElementsByTagName(e)[0];<br \/>\n                        s.parentNode.insertBefore(t,s)}(window, document,&#8217;script&#8217;,<br \/>\n                        &#8216;https:\/\/connect.facebook.net\/en_US\/fbevents.js&#8217;);<br \/>\n                        fbq(&#8216;init&#8217;, &#8216;1517407191885185&#8217;);<br \/>\n                        fbq(&#8216;track&#8217;, &#8216;PageView&#8217;);<\/p>\n<p>                        \/*End Meta Pixel Code*\/<br \/>\n                } else if (0 > -1 &#038;&#038; 85 > -1)<br \/>\n           {<br \/>\n\t                \/*Meta Pixel Code*\/<br \/>\n                    !function(f,b,e,v,n,t,s)<br \/>\n                    {if(f.fbq)return;n=f.fbq=function(){n.callMethod?<br \/>\n                    n.callMethod.apply(n,arguments):n.queue.push(arguments)};<br \/>\n                    if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=&#8217;2.0&#8242;;<br \/>\n                    n.queue=[];t=b.createElement(e);t.async=!0;<br \/>\n                    t.src=v;s=b.getElementsByTagName(e)[0];<br \/>\n                    s.parentNode.insertBefore(t,s)}(window, document,&#8217;script&#8217;,<br \/>\n                    &#8216;https:\/\/connect.facebook.net\/en_US\/fbevents.js&#8217;);<br \/>\n                    fbq(&#8216;init&#8217;, &#8216;1517407191885185&#8217;);<br \/>\n                    fbq(&#8216;track&#8217;, &#8216;PageView&#8217;);<br \/>\n                    \/*End Meta Pixel Code*\/<br \/>\n\t        }<br \/>\n            }<\/p>\n<p>   \/\/         function gtmFunctionForLayout()<br \/>\n   \/\/         {<br \/>\n        \/\/loadJS(&#8220;https:\/\/www.googletagmanager.com\/gtag\/js?id=G-K6ZDLWV6VX&#8221;, initJobSearch, document.body);<br \/>\n\t\t\t\/\/}<\/p>\n<p>   \/\/         window.onload = (e => {<br \/>\n   \/\/             setTimeout(<br \/>\n   \/\/                 function () {<br \/>\n   \/\/                     document.addEventListener(&#8220;DOMContentLoaded&#8221;, function () {<br \/>\n   \/\/                         \/\/ Select all anchor elements with class &#8216;ui-tabs-anchor&#8217;<br \/>\n   \/\/                         const anchors = document.querySelectorAll(&#8216;a .ui-tabs-anchor&#8217;);<\/p>\n<p>   \/\/                         \/\/ Loop through each anchor and remove the role attribute if it is set to &#8220;presentation&#8221;<br \/>\n   \/\/                         anchors.forEach(anchor => {<br \/>\n   \/\/                             if (anchor.getAttribute(&#8216;role&#8217;) === &#8216;presentation&#8217;) {<br \/>\n   \/\/                                 anchor.removeAttribute(&#8216;role&#8217;);<br \/>\n   \/\/                             }<br \/>\n   \/\/                         });<br \/>\n   \/\/                     });<br \/>\n\t\t\t\/\/\t\t}<br \/>\n\t\t\t\/\/\t\t, 200);<br \/>\n\t\t\t\/\/});<\/p>\n","protected":false},"excerpt":{"rendered":"The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that&hellip;\n","protected":false},"author":2,"featured_media":203161,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[2000,299,5187,1699,17726],"class_list":{"0":"post-203160","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-eu","9":"tag-europe","10":"tag-european","11":"tag-european-union","12":"tag-oil-and-gas-petroleum-news-events-stories-articles-analysis-commentary-headlines-stocks-finance-commodities-maps-pictures"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114722765875400117","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/203160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=203160"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/203160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/203161"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=203160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=203160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=203160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}