Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Ben Gurion Airport airspace sut down following missile launch from Yemen
Israeli media: Air raid sirens sound in the central region and Hashfala following the detection of a missile launch from Yemen
SDF announces the killing of three of its members as a result of ISIS cells detonating a landmine targeting a vehicle of a security patrol on the Hasaka-Raqqa road
The Popular Resistance Committees: We call on all international institutions to take urgent action and uphold their responsibilities by restoring and immediately enforcing effective mechanisms for the distribution of humanitarian aid.
The Popular Resistance Committees: The latest Zio-American crime against Gaza’s starving civilians constitutes a war crime, for which the US administration bears full and direct responsibility.
Gaza Media Office: Bloody spectacle shows that these zones have become collective death traps rather than aid distribution zones.
Gaza Media Office: Dozens of citizens are still surrounded under constant fire in the vicinity of the "aid station."
Gaza Media Office: As soon as citizens arrived, occupation and Americans opened direct fire on them.
Gaza Media Office: Occupation, in complicity with the US company, called on citizens to move toward Wadi Gaza Bridge, claiming that aid would be distributed.
Gaza Government Media Office: Occupation set a bloody trap at bridge of Wadi Gaza, luring thousands of starved civilians, and opened fire on them.

US pressures EU on price cap for Russian oil: Reports

  • By Al Mayadeen English
  • Source: Agencies
  • 28 Nov 2022 17:50
2 Min Read

Politico reports that the United States is pressuring European Union member countries to force a price cap on Russian oil.

  • x
  • US pressures the EU on price cap
    US pressures the EU on price cap

The United States is pressuring European Union member countries to force a price cap on Russian oil, Politico reported on Monday. 
 
Last week, media reports stated that the EU was negotiating to introduce a price ceiling for Russian oil of between $65 and $70 per barrel, in an attempt to reduce Russia's revenue from its oil exports, as part of anti-Russia sanctions amid the war in Ukraine.

Related News

Challenges undermine Gulf States’ ambitions in AI development: FT

US expands federal contract cuts to target tech vendors: WSJ

However, Reuters reported that "Poland, Lithuania and Estonia believe the $65-$70 per barrel would leave Russia with too high a profit, since production costs are around $20 per barrel." The talks are expected to continue on Monday. 

Read: EU delays, eases Russian oil price cap before implementation
 
The EU had been experiencing "pressure from the US" to agree on an oil price, a senior diplomat from a Mediterranean member country told Politico, which added that the EU was under increased pressure from the G7 members too.
 
If agreed on, the EU price cap is scheduled to come into force on December 5, synergizing with a similar UK ban and another on seaborne imports of Russian oil. 
 
Western nations have been trying to find ways to reduce Russia's income from oil and gas exports since the start of the war in Ukraine. In September, the G7 finance ministers confirmed their intention to impose a price cap on Russian oil, urging all countries to support the initiative.

In October, the EU Commission confirmed an eighth sanctions package against Russia on Thursday, which involves both economic and personal restrictions. The new package set a foundation for the G7's implementation of the potential oil price cap, with the EU Commission's statement relaying that the package "marks the beginning of the implementation within the EU of the G7 agreement on Russian oil exports. While the EU's ban on importing Russian seaborne crude oil fully remains, the price cap, once implemented, would allow European operators to undertake and support the transport of Russian oil to third countries, provided its price remains under a pre-set 'cap'."
 
In turn, Russia has pledged to stop supplying oil and gas to countries that impose price ceilings.  

  • United States
  • Poland
  • Estonia
  • Ukraine
  • Lithuania
  • European Union
  • Russia
  • Russian oil

Most Read

President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
US judges quietly consider private security amid Trump tensions

US judges quietly consider private security amid Trump pressures

  • US & Canada
  • 25 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
MIT bans class president who gave pro-Palestine speech
US & Canada

MIT bans class president over pro-Palestine speech

Arab ministers condemn Israel 'ban' on planned West Bank visit
Politics

Arab ministers condemn Israeli ban on planned West Bank visit

Major General Hu Gangfeng, Vice President, National Defense University, People's Liberation Army, China, leaves after a panel discussion during the 22nd Shangri-La Dialogue summit in Singapore, Saturday, May 31, 2025. (AP Photo/Anupam Nath)
Politics

China blasts Hegseth, calls US top 'troublemaker' in Asia-Pacific

US activists demand shutdown of Musk's 'dirty' supercomputer: Reports
Technology

US activists demand shutdown of Musk's 'dirty' supercomputer: NBC News

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS