London CNN Business —
archive.cms.cnn.com/_components/paragraph/instances/paragraph_8E9CE615-D549-EB83-8808-CD901D206B28@published” data-editable=”text” data-component-name=”paragraph”> The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_45480889-6CAF-D4BF-BB59-D416AAC55B60@published” data-editable=”text” data-component-name=”paragraph”> News of the deal, which had needed approval from holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula von der Leyen, marking a key milestone in the West’s efforts to punish President Vladimir Putin without adding to stress on the global economy.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_D97A42DA-6270-4292-8A28-D416B60FA6C0@published” data-editable=”text” data-component-name=”paragraph”> “Today, the European Union, the G7 and other global partners have agreed to introduce a global price cap on seaborne oil from Russia,” von der Leyen said, adding that it would strengthen sanctions on Russia, diminish Moscow’s revenues and stabilize energy markets by allowing EU-based operators to ship the oil to third-party countries provided it is priced below the cap.
archive.cms.cnn.com/_components/paragraph/instances/paragraph_54728D1A-99E4-8607-F92F-CD9217805F24@published” data-editable=”text” data-component-name=”paragraph”> The bloc’s 27 member states agreed Friday to set the…
