The European Union has agreed to set a price ceiling for Russian oil at $60 per barrel, and the Council of the European Union is expected to ratify the decision shortly.
Poland’s representative to the EU, Andrzej Sadus, told reporters on Friday that “Poland has agreed to a compromise with the EU on a $60 per barrel ceiling on the price of Russian oil, which will allow the EU to formally ratify the decision over the weekend.”
The European Union is expected to officially announce its decision next Sunday.
The representative of Poland indicated that the agreement also included a price review mechanism that would keep prices below market value by 5%.
It should be noted that Poland was the only country in the European Union that prevented the establishment of a price ceiling for Russian oil, demanding that it be much lower than the one proposed by the European Union.
The Czech Republic, which currently holds the presidency of the Council of the European Union, confirmed that an agreement had been reached, noting that the decision would enter into force as soon as it was published in the official register after the completion of the preparation of documents.
Source: agencies