EU diplomats failed on Monday to agree on a set price cap for Russian oil as a December 5 deadline for the policy is approaching, Reuters reported.
The main hindrance to reaching a deal was Poland, which is demanding a much lower price cap than what the G7 has requested. The EU was asked to put the price cap between $65 to $70 per barrel, but Poland wants it slashed down to $30, a similar figure to what Ukrainian President Volodymyr Zelensky would like to see.
“The Poles are completely uncompromising on the price, without suggesting an acceptable alternative,” an EU diplomat told Reuters. “Clearly there is growing annoyance with the Polish position.”
The idea of the price cap, which has been pushed by US Treasury Secretary Janet Yellen, is to keep Russian oil on the market to limit an increase in global prices while keeping Moscow’s profits down. December 5 is when the EU’s oil embargo on Russia begins, although there are exemptions for land-locked countries, including Hungary.
The EU ban also includes a prohibition on providing insurance for Russian oil shipments. The price cap would allow such services to be provided as long as the oil is being sold at a price set by the West.
But the plan’s major flaw is that it requires Moscow’s cooperation, and Russia has repeatedly stated that it will cut off any country that tries to implement the price cap. If Moscow retaliates by cutting oil production, it will send global prices skyrocketing and have the reverse effect of what Yellen says the plan can achieve.
Polish diplomats told Reuters that if a price isn’t agreed upon by December 5, the EU sanctions on Russian oil will take effect without the price cap exemption.
Question, does Poland really want the price cap or are they being this unreasonable in order to torpedoe the entire idea? Russia will never export oil for $30. They cannot possibly be stupid enough to believe that is a viable option.
The polish have been, are, and will continue pursuing a vendetta with Russia.
To quote an impeccable source:
“To the last, I grapple with thee. From hell’s heart, I stab at thee. For hate’s sake, I spit my last breath at thee.”
Pretty much sums up my assessment of the Polish psyche re Russia.
The EU is a US vassal , and will do as their masters in Washington tell them to do , it hasn`t sunk into their thick skulls yet the US is the problem not the solution.
That lesson will only sink in when the Russians are no longer the biggest threat.
Why is that old hag Yellen getting involved in foreign policy?
“But the plan’s major flaw is that it requires Moscow’s cooperation, and Russia has repeatedly stated that it will cut off any country that tries to implement the price cap. If Moscow retaliates by cutting oil production, it will send global prices skyrocketing and have the reverse effect of what Yellen says the plan can achieve.”
We can do the whataboutism here. Would the US, under similar circumstances, cooperate?
What does the US export that requires purchasing shipping and insurance from Russia?
If you’re waiting for a response to your specific question, don’t hold your breath. You’re just too f*king annoying to have a conversation with.
That is fine I do not expect you to be capable of delivering a competent answer.
“That is fine”
Glad you’re ok with it.
“I do not expect to be capable of delivering a competent answer”
Agreed.
You get my drift?
Yes I accept your surrender 🙂
Oh don’t be a jerk. You annoy people not because you have an annoying view, but because you’re incapable of acknowledging that there is another side of the fence.
As to competence in a discussion forum such as this, take a look in the mirror. Think about the name of the site….
Am I though? I have several times acknowledged that there are good/valid points made by the people arguing against me – so perhaps look through the comments and see that this is more true of the people arguing with me.
Yes please do -because I’m one of the few people here actually against this war – most of the people I argue with are just against the west helping Ukraine, ignoring that rewarding wars of territorial conquest will cause far more such wars – often their argument is just down to the US did it so it is OK if Russia does it, while ignoring that the US has not annexed territory since about WWII, and presupposing that I supported any of the US wars.
So yes look in the mirror before you accuse me of being anything other than against war!
That said – yes it was a jerk answer but as I saw it to a jerk i.e. one of those people who have argued based on false assumptions about my position and is only against this war because the Ukrainians are getting outside help – as I saw it!
Exhibit B.
Of you being annoying rather than willing to provide actual arguments for what you say?
“let us tell you what you can charge us for your product”