The European Union has agreed to cap their purchase of Russian oil at $60 per barrel. That does not mean Russia has to sell it to them at that price. They don’t.
“Some preparation was carried out for such a ceiling. We will not accept this ceiling, and we will provide further information on how the work will be organized after the review,” said Kremlin spokesperson Dmitry Peskov.
So what is this cap then? It is a sanction on Westerners. It means that they won’t be allowed to buy oil from Russia if it is more than $60 per barrel. But again, that does not mean Russia has to honor it. It could mean that some Western trade simply does not happen, which would seriously harm Europe and other Western allies.
Why does the EU seem hellbent on cutting their own progress in order to “harm Russia”? Good question.
