Ukraine urges EU to stay united, slash Russian oil prices

Ukraine urges EU to stay united, slash Russian oil prices

The president called on European leaders to settle on the lowest oil cap of US$30 per barrel.

President Volodymyr Zelensky says preserving unity will help Europe stand against Russian aggression. (Wiki Commons pic)
VILNIUS:
Ukraine’s president Volodymyr Zelensky today called on Europeans to remain united against Russia’s war and to severely limit the price for Russian oil.

“There is no split, there is no schism among Europeans and we have to preserve this. This is our mission number one this year,” Zelensky said in an address via a live video link to a conference in Lithuania.

“Europe is helping itself. It’s not helping Ukraine to stand against Russia, this is helping Europe to stand against Russian aggression”, he added.

Much of Ukraine remained without heat or power after the most devastating Russian air strikes on its energy grid so far, and in Kyiv residents were warned to brace for further attacks and stock up on water, food and warm clothing.

European Union governments remained split on Thursday over what level to cap Russian oil prices at to curb Moscow’s ability to pay for the war, and Zelensky called on the EU leaders to settle on the lowest proposal of US$30.

“The price cuts are very important. We hear about (proposals to set the cap per barrel at) US$60 or US$70. Such words sound more like a concession (to Russia)”, Zelensky said.

“But I’m very grateful to our Baltic and Polish colleagues for their proposals, quite reasonable ones, to set this cap at US$30 per barrel. It’s a much better idea”, he added.

The EU states failed to reach a deal on the price level for Russian seaborne oil on Wednesday because a Group of Seven nations (G7) proposal for a cap of US$65-70 per barrel was seen as far too high by some and too low by others.

Poland wants the cap to be set at US$30, arguing that with Russian production costs that some estimate at US$20 per barrel, the G7 proposal would allow Moscow too much profit. Lithuania and Estonia back Poland.

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