This is via Reuters (in brief), citing unnamed sources on the plan. An actual price cap on Russian oil will be set later this month, rather than adopting a floating rate.
This is re the plan to set a price cap on sea-borne oil shipments, scheduled to take effect on December 5
- “The Coalition has agreed the price cap will be a fixed price that will be reviewed regularly rather than a discount to an index," said a coalition source, who was not authorized to speak publicly.
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Russia's genocide in Ukraine has set them offside with most countries of the world. Russia is still supported by China and North Korea though.
