EU Foreign Policy Chief Seeks Lower Price Cap on Russia’s Oil

Kaja Kallas, the EU’s foreign policy chief, is pushing for the European Union to lower the price cap on Russian oil to further reduce the oil revenues for the Kremlin, Kallas told Bloomberg Television in an interview on Tuesday. “I’m really pushing for this to be lowered because it has a clear effect,” said Kallas, who is the High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission. The current price cap mechanism set by the G7 and the EU says that Russian crude shipments…