EU closes in on USD 60 price cap for Russian oil as deadline looms

With a Monday deadline approaching, EU member nations appear to be closing in on a price cap on Russian crude oil of USD 60 per barrel, according to sources.

Photo: Bernadett Szabo/Reuters/Ritzau Scanpix

By Alberto Nardelli, Ewa Krukowska and Jorge Valero, bloomberg news

European Union states are starting to coalesce around a plan to cap the price of Russian crude oil at USD 60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles

Receive our daily newsletters

Access our app

Get full access for you and your coworkers

Start a free company trial today

Biden still confident about price cap on Russian oil
EU is hooked on Russia LNG and paying billions to keep it coming
For subscribers
Russian diesel halt is still looking like Europe's big problem
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

The penal code provision on trespassing is used when someone enters private property without permission. | Foto: Jens Dresling/Ritzau Scanpix

Container

Multiple arrests as protestors block entrance to Maersk HQ

14 people have been charged with trespassing in connection with a pro-Palestinian demonstration on Esplanaden in Copenhagen.

Drone attack in Red Sea damages merchant ship

Maersk has high hopes for rail freight that sidesteps Russia

For subscribers

Halvor Sveen is chief executive of Oslo-based shipping bank Maritime & Merchant. | Foto: Marine Money/Oscar May

Suppliers

Maritime & Merchant notes fierce competition in loans for shipping

For subscribers

Container

Liner companies pay soaring sums for charter deals

For subscribers

Offshore

Maersk Supply Service aims to quadruple profits

For subscribers

Chief executibe of Wallenius Wilhlemsen Lasse Kristoffersen, and chief executive of Höegh Autoliners Andreas Enger. | Foto: Wallenius Wilhelmsen and Javad Parsa

Carriers

Norwegian car carriers bag multi-year contracts

For subscribers

Logistics

Packed container ships trigger surge in air freight demand

For subscribers

Record influx of container ships this year will not cause trouble until 2025

The number of container ships is growing at record speed, but will not cause serious overcapacity until 2025, according to Bimco.

For subscribers

Gilbert Walter is new chairman of shipbroker BRS. | Foto: BRS

Shipbroker BRS appoints Gilbert Walter as chairman

While Francois Cadiou steps down from the role he has held for four years, he remains a newbuilding broker in Paris for the company

For subscribers

Spot prices for container freight continue to rise

This marks the 12th consecutive week that spot prices for containerized freight are increasing.

Foto: Hannibal Hanschke/Reuters/Ritzau Scanpix

IMO's fossil fuel ban in the Arctic faces criticism

On July 1, the use and transportation of heavy bunker oil by ships in the Arctic will be banned. A climate organization now accuses the ban of being full of loopholes.

For subscribers