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EU split on Russian oil price cap level, talks to resume Thursday

European Union governments failed to reach a deal on Wednesday at what level to cap prices for Russian sea-borne oil under the Group of Seven nations (G7) scheme and will resume talks on Thursday evening or on Friday, EU diplomats said. Earlier on 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. "There are still differences on the price cap level. We need to proceed bilaterally," one EU diplomat said. "The next meeting of ambassadors of EU countries will be either tomorrow evening or on Friday," the diplomat said.

News Source:- https://economictimes.indiatimes.com/news/international/world-news/eu-split-on-russian-oil-price-cap-level-talks-to-resume-thursday/articleshow/95727555.cms