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Widespread circumvention and the use of a vast fleet of shadow tankers have limited the policy’s effectiveness (Photo: Unsplash - Shaah Shahidh)

Nordic and Baltic ministers call for lowering G7 price cap on Russian oil

Six EU countries have called on the European Commission to reduce the $60 [€59] price cap on Russian oil.

“Sanctions have successfully weakened Russia’s economy and restricted its war effort,” the foreign ministers of Finland, Sweden, Denmark, Latvia, Estonia, and Lithuania wrote in a letter over the weekend and shared with press on Monday (13 January).

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

Widespread circumvention and the use of a vast fleet of shadow tankers have limited the policy’s effectiveness (Photo: Unsplash - Shaah Shahidh)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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