EU won’t cut Russian oil price cap without G7 backing

Two diplomats from key EU states, familiar with the proceedings of the EU Committee of Permanent Representatives (Coreper) meeting on June 16, shared the information with a European Pravda journalist on condition of anonymity.

European Commission President Ursula von der Leyen has already stated that any decision to lower the price cap on Russian oil must be made jointly with G7 partners and will be discussed at the upcoming G7 summit in Canada.

A source told European Pravda that the G7 would clearly not support lowering the price cap from $60 to $45 per barrel at the Canada summit, and in that case, the EU would not include the measure in its 18th sanctions package.

This position was echoed by a second diplomatic source.

The source said that during the Coreper meeting on June 16, the need for coordination with the G7 on the oil price cap was emphasized, and representatives of member states voiced concerns about lowering the maximum price. The diplomat also noted that a unilateral reduction of the oil price cap by the EU was unlikely.

• Ukrainian Foreign Minister Andrii Sybiha has called for tougher energy sanctions against Russia after the Russian attack on Kremenchuk ahead of the Group of Seven (G7) summit in Canada.