EU Considers Freezing Russian Oil Price Cap at Current Levels on June 2

According to Politico citing diplomatic sources, the European Union is considering freezing its price cap on Russian oil at current levels instead of adjusting it with market fluctuations. The move aims to prevent Russia from benefiting further as international crude prices rise. While the EU is unlikely to impose a complete ban on Russian oil, officials are exploring ways to tighten the existing price cap mechanism.
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