The $60 oil price ceiling will go into force on Monday or shortly thereafter, along with an EU embargo on marine exports of Russian crude oil. He further described the decision on the price cap as "a weak position". ALSO READ: Oil Price Cap On Russian Oil Will Benefit Emerging Markets, Help Constrain Putin’s Finances: USLimit Russia's FundingZelensky, in his speech, gave the impression that he agreed with Poland's stance, which it had fought for until agreeing to the $60 cap on Friday. The EU embargo on seaborne deliveries follows a decision by Germany and Poland to stop taking Russian oil via pipeline by the end of 2022. According to the bloc, in all, more than 90 percent of Russian deliveries to the European Union will be hit.
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