• EU's oil cap may result in ‘violent' price spikes - Economist

    2 monthes ago - By RT

    Restricting Russian seaborne crude supply may shatter the energy market, according to the outlet
    As the European Union's sanctions on Russian oil are about to kick in next week, the measure could result in price shocks on the global market, The Economist reported on Friday. The EU has agreed on a $60-per-barrel price cap on Russian seaborne oil.
    According to the report, European insurers and shipping firms have long had a “vice-like hold” on energy markets. Fully 95% of property and indemnity insurance for all oil tankers has been handled by firms from the UK and the EU. This appeared to...
    Read more ...

     

  • EU sanctions on Russian oil take effect on Monday - here's what to expect and why a price cap may not yield any real results

    EU sanctions on Russian oil take effect on Monday - here's what to expect and why a price cap may not yield any real results

    2 monthes ago - By Business Insider

    Russian President Vladimir Putin. Contributor/Getty Images
    The European Union's sanctions on Russian oil shipments will take effect on Monday.
    But EU officials are still negotiating exactly where to set a price cap on Russian oil.
    The US has said ships loaded with Russian oil before December 5 and unloaded at destinations before January 19 won't be subject to the price cap.
    The European Union's sanctions on Russian oil will take effect on Monday, and energy markets are headed for uncharted waters in the months ahead. Meanwhile, EU officials are still negotiating exactly where to set a...
    Read more ...