5 min read
Brussels' Self-Set Trap: Why 15 July Could Blow the Russian Oil Price Cap to $58
EU ambassadors face a 15 July deadline to agree changes to the Russian oil price cap or watch it automatically jump from $44.10 to $58 a barrel under a formula written into the sanctions regime itself. The mechanics of that trigger, and Sofia's retreat from a hard veto, are what will decide the outcome.