According to Bloomberg, the commission and member states discussed the price ceiling over the weekend, but the decision may be postponed until later.
News agency According to Bloomberg, the EU member states are having difficulty making a joint decision on the price ceiling for Russian oil.
According to Bloomberg’s sources, Cyprus and Hungary, among others, would have raised objections to the proposal for a price ceiling. In the EU, sanctions decisions require the unanimity of the member states.
According to the news agency, the European Union will probably postpone the decision until it has agreed on a larger sanctions package.
The oil price ceiling aims to keep the price of crude oil low so that Russia’s oil revenues do not increase.
The G7 group of the world’s largest economies decided on the price ceiling at the beginning of September, but it is voluntary and can be circumvented.
Read more: The Russian oil price ceiling is easily circumvented – the US is afraid of overly effective sanctions
EU-maiden leaders will meet informally in Prague, Czech Republic, on October 6, before which member states may seek to reach a tentative agreement.
The Union aims for greater sanctions against, among others, the Russian president Vladimir Putin announced about Russia’s partial movement support and demonstrative “referendums” on joining Russia in the occupied territories of Ukraine.
In addition to the oil price ceiling, the list of possible sanctions includes, for example, restrictions on the import of diamonds, a ban on the import of certain steel products, and a ban on the export of electronic components used in weapons to Russia.