The European Union may freeze the price cap on Russian oil

Several Western media outlets have revealed that the European Union is considering freezing the price cap mechanism for Russian oil, keeping the price at the current level instead of adjusting the upper limit according to market trends, in order to prevent Russia from continuing to profit from surging international crude oil prices. According to Politico, citing diplomatic sources on the 2nd, it is unlikely that the EU will completely “ban” Russian oil, but it may “make adjustments” regarding the price cap. (Xinhua News Agency)