Nordic and Baltic Countries Push for Tighter Price Cap on Russian Oil

Post Views: 294 Tighter Price Cap on Russian Oil Six European nations demand a lower price cap on Russian seaborne oil. Denmark, Estonia, Finland, Latvia, Lithuania, and Sweden call for stronger sanctions. They aim to disrupt Russia’s war efforts in Ukraine. The current $60 per barrel cap needs revision.   Stronger Sanctions and Reduced Russian Oil Revenue These nations argue sanctions must strengthen. They target Russia’s primary income source: oil exports. Russia depends on energy exports. Therefore, they must sell oil at lower prices. This sustains their war economy. A redu...