EU price cap on Russian energy sparks wrath

RUSSIA / FSU POLITICS - In Brief 27 Oct 2022 by Alex Teddy
On October 27 the head of Rosneft said that the price cap on Russian oil and gas is increasing American dominance and undermining the independence of European countries. Rosneft said that EU countries will become overdependent on US energy. G7 countries have agreed to a price cap on Russian energy but the limit is higher than originally proposed. The EU has not agreed to gas price capping but is trying to do so. The EU's ban on most Russian oil takes effect on December 5. The US already has an embargo on Russian oil. Russia said it will cut off oil sales to countries that put a cap on it. 

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