Thursday, October 23, 2025

Latest

EU Members Conditionally Approve $60 Price Cap on Russian Seaborne Crude

Brussels tentatively agreed to set the long-discussed price cap on Russian crude at $60 per barrel, in the latest move to throttle incoming revenues into Moscow’s Ukraine military operation.

According to an EU diplomat cited by Reuters, the European Commission requested that the 27 member states agree to a $60 price cap on all Russian seaborne oil. Brussels discussed the matter on Thursday, with the potential of lowering or raising the price cap open for negotiations at a later date. If approved, the cap would come into effect as early as December 5, during when a separate EU ban on Russian crude takes effect. Under the price cap, companies shipping Russian oil will still have access to EU-based brokerage services and insurance; otherwise, maritime services for Russian crude shipments would be banned.

The price cap would put Russian crude substantially below the Brent international benchmark, which currently sits at around $88 per barrel. However, Russian oil is already sold at a substantial discount to that regardless, with Urals crude exports selling at around $48 per barrel, according to data from Argus Media.

The US, for its part, is concerned that the embargo would increase global oil prices even more, inadvertently creating even more revenue for Russia. Brussels insists the price cap is designed in such a manner that Russian crude would still enter international markets, but prevent Moscow from receiving all the revenue from its sale. Still, some EU officials cited by the Wall Street Journal pointed out the plan may not be as effective, since the price cap is set above the price of several crude exports.

Information for this briefing was found via Reuters, the WSJ, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Russia Abruptly Bans Diesel, Gasoline Exports

Russia has implemented a ban on the export of diesel and petrol, sending shockwaves through...

Friday, September 22, 2023, 11:27:00 AM

Fires Hit Two EU Refineries Handling Russian Oil

Separate incidents struck oil facilities in Hungary and Romania on Monday, both processing Russian crude,...

Wednesday, October 22, 2025, 12:55:00 PM

Russian Crude Oil Exports See Significant Drop Toward End of June

Russian crude oil exports by sea experienced a substantial decline of up to 980,000 barrels...

Friday, June 30, 2023, 04:28:00 PM

Russia Dramatically Increases Gold Purchases As Oil and Gas Revenue Surges

The Russian Finance Ministry has announced a substantial increase in its gold purchases starting September...

Saturday, September 7, 2024, 07:33:00 AM

Oil-Out War: Biden Threatens Sanctions On Russian Oil Buyers Who Ignore Price Cap, Putin Warns Total Energy Export Halt

The weaponization of energy exports is on full display as the US warns of imposing...

Tuesday, September 13, 2022, 12:14:00 PM