Europe Will Live Without Russian Oil Starting This Year After Imposing Price Cap - Ulyanov

(@FahadShabbir)

Europe Will Live Without Russian Oil Starting This Year After Imposing Price Cap - Ulyanov

MOSCOW (UrduPoint News / Sputnik - 03rd December, 2022) The European Union will live without Russian oil starting this year after introducing a price cap on it, Russian Permanent Representative to International Organizations in Vienna Mikhail Ulyanov said on Friday.

"Starting from this year #Europe will live without Russian #oil. #Moscow has already made it clear that it will supply oil to those countries who support anti-market price cap.

Just you wait. Very soon the #EU will blame Russia for using oil as a weapon," Ulyanov tweeted.

On Friday, the European Union reached an agreement on setting a price cap on Russian oil at $60 per barrel. The agreement reportedly provides for a review mechanism to keep the price cap at 5% below the market value. The G7 nations and Australia also agreed to set a $60 price ceiling on oil from Russia, which will enter into effect on December 5.