The ridiculous reality of the Russian oil price cap debate in one picture – Mish Talk

EU negotiations stall over the price level for the proposed Russian oil ceiling

Bloomberg reports that EU negotiations are deadlocked over the price level of the proposed Russian oil cap

The EU’s executive arm proposed a level of $65 per barrel, which Poland and the Baltic countries rejected as being too generous to Moscow, the people said. But several countries with major shipping industries, including Greece, do not want to go below $70, the upper end of the range presented by the EU earlier Wednesday.

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