By BRUSSELS. Dec 2 (Interfax-Ukraine) – The agreement by the European Union over a price cap for Russian oil will help stabilize global energy prices and bring down Russia’s earnings, European Commission President Ursula von der Leyen said on Twitter.
"The EU agreement on an oil price cap, coordinated with G7 and others, will reduce Russia’s revenues significantly," von der Leyen said.
The move will help stabilize global energy prices, which will benefit primarily developing countries, she added.
Earlier on Friday, the Czech presidency of the EU said that EU ambassadors had agreed on a cap on Russian oil prices. According to Western media, the cap has been set at $60 per barrel. The decision will come into force after publication of the relevant document in the Official Journal of the EU.
