EU tentative deal to cap Russian oil at $60 a barrel, diplomat says

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Illustrative photo of mockup oil barrels in front of EU and Russian flags

BRUSSELS (Reuters) – Members of the European Union, except Poland, tentatively agreed on Thursday to cap the price of Russian oil transported by sea at $60 a barrel, an official said. European diplomat.

This agreement would be accompanied by an adjustment mechanism to maintain the ceiling 5% below the market price, added the diplomat.

Poland, which had pushed for the lowest possible cap, has until 3:00 p.m. GMT to give its assent.

If Warsaw gives the green light, governments will have until Friday to ratify the agreement, the diplomat said.

(Report Jan Strupczewski; French version Kate Entringer, edited by Blandine Hénault)

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