The United States refuses to support lowering the price cap on Russian oil, which has raised concerns among European politicians and analysts
This information is reported by the reputable news agency Bloomberg, citing sources within diplomatic circles and official bodies. Washington’s refusal to back this initiative complicates the European Union and the United Kingdom's efforts to implement an effective mechanism to limit Russia's oil revenue, which is a crucial component of their strategic diplomacy aimed at maintaining pressure on Moscow through economic sanctions. According to Bloomberg, the U.S. is firmly opposed to reducing the cap on Russian oil, directly contradicting the main goals of G7 allies—to decrease financial flows to the Russian budget, which are used to fund aggression against Ukraine. The sources indicate that this decision largely depends on the political will of the American leadership, particularly President Donald Trump, although recently the administration has shown no readiness to reconsider its position, which was articulated earlier this year at the G7 finance ministers’ meeting. The lack of flexibility on this issue is explained by the desire of the U.S. to maintain control over the global energy market and its policy towards Russia. While the European Union and the United Kingdom insist on lowering the upper limit of the Russian oil price from the current $60 per barrel to $45 in order to reduce Moscow’s income and diminish its ability to finance military operations in Ukraine, Washington remains unwavering in its stance. According to one Bloomberg informant, European leaders are considering acting independently and without U.S. participation by lowering the price cap unilaterally. "Since most Russian oil supplies pass near European waters, such a decision could have some impact. However, without alliance cooperation, including U.S. involvement, the effect will be significantly less effective," states one of the sources. The idea is that a deep and coordinated international agreement, especially involving all G7 countries, could significantly enhance the effectiveness of sanctions mechanisms. There is a background history to this issue: as previously reported by "EuroPravda," within the European Union’s 18th sanctions package, there is consideration of lowering the maximum price cap on Russian oil from $60 to $45 per barrel to limit funding for Russia’s war machine. At the same time, Ukraine recently appealed to European partners to further reduce this price cap—down to $30—given the need to maximize pressure on Moscow. Anticipating a possible U.S. refusal to support further reductions in the price cap, the EU is not ruling out the possibility of acting independently and making decisions on this matter without U.S. participation. This could become a key point in a new wave of sanctions against Russia, as all efforts are aimed at tightening economic pressure and stopping the financing of the war. However, for now, the situation remains tense, and it remains an open question whether Europe and the UK will be able to pursue their own course on lowering the price ceilings without American support, which complicates international coordination in the fight to reduce Russian oil revenues.