The European Union will impose from Monday a 60-dollar-per-barrel price cap on Russian oil. The cap was established by the European Union, the G7 countries and Australia in order to reduce the revenues obtained by Russia from its oil sales in the context of the war this country generated in Ukraine.

Ukraine’s president Volodymyr Zelensky described the decision as not serious, given that the current price is 65 dollars per barrel. He called for a lower cap of 30 dollars per barrel. Many experts believe, however, that this would destabilise the global oil market and lead to an uncontrolled  rise in prices.

According to new agencies, Russia has already warned it will no longer deliver oil to the countries that impose price caps.

Radio Romania International