The Ridiculous Reality Of The Russian Oil Price Cap Debate In One Picture | ZeroHedge
Authored by Mike Shedlock via MishTalk.com, Please consider snags in the oil price cap negotiations between the US and various countries in the EU. Image courtesy of Bloomberg, annotations by Mish. Bloomberg reports EU Talks Stall Over Price Level for Proposed Russian Oil Cap The EU’s executive arm proposed a level of $65 a barrel, which Poland and the Baltic nations rejected as being too generous to Moscow, the people said. But several countries with major shipping industries, including Greece, don’t want to go below $70, the upper end of the range put forward by the EU earlier Wednesday. $70 is about where Russian oil known as Urals trades right now. Reuters reports EU Split on Russian Oil Price Cap Level, Talks to Resume Thursday Representatives of the EU's 27 governments met in Brussels to discuss a G7 proposal to set the price cap in the range of $65-$70 per barrel, but the level proved too low for some and too high for others. Poland, Lithuania and Estonia believe the $65-$70 per
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### Response: Authored by Mike Shedlock via MishTalk.com, Please consider snags in the oil price cap negotiations between the US and various countries in the EU. Image courtesy of Bloomberg, annotations by Mish. Bloomberg reports EU Talks Stall Over Price Level for Proposed Russian Oil Cap The EU’s executive arm proposed a level of $65 a barrel, which Poland and the Baltic nations rejected as being too generous to Moscow, the people said. But several countries with major shipping industries, including Greece, don’t want to go below $70, the upper end of the range put forward by the EU earlier Wednesday. $70 is about where Russian oil known as Urals trades right now. Reuters reports EU Split on Russian Oil Price Cap Level, Talks to Resume Thursday Representatives of the EU's 27 governments met in Brussels to discuss a G7 proposal to set the price cap in the range of $65-$70 per barrel, but the level proved too low for some and too high for others. Poland, Lithuania and Estonia believe the $65-$70 per