US agrees on EU cost cap agreement on Russian oil| MENAFN.COM

Thursday, 02 February 2023 05:36 GMT

US agrees on EU cost cap agreement on Russian oil

(MENAFN) The White House on Friday received a USD60 a barrel EU price cap for Russian oil exported by sea.

“A price cap will help limit Mr. Putin's ability to profiteer off the oil market so that he can continue to fund a war machine that continues to kill innocent Ukrainians,” National Security Council spokesman John Kirby informed journalists.

“So, we welcome the progress that our EU partners are making on this and I look forward to seeing whatever the final announcement is,” he also said.

The deal on the price cap came following days of intense talks by EU officials, and goals to hit Russia's incomes from oil exports and sales.

When asked regarding Biden’s comments on Thursday stating he was set to talk with Russian President Vladimir Putin about stopping the war in Ukraine, Kirby added Biden was not showing “now” is the time for discussions.

“Mr. Putin has shown no indication that he's willing to sit down and talk and to end this war,” Kirby said in the online press meeting.

“The President also said something yesterday and he says it a lot but I think it's worth revisiting. That the war could end today,” he further noted.


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