The price of Ural oil, Russia’s flagship brand, fell again, falling below the level of the price ceiling discussed at the level of the European Union and the G7, according to Bloomberg.

According to the specialized company Argus, the price of Ural oil in the port of Primorsk on the Baltic Sea fell to $51.96 per barrel, reaching a similar level in the port of Novorossiysk on the Black Sea.

Last week, European diplomats discussed capping the price of oil imported from Russia at around $65-70 per barrel. Negotiations resumed on Monday.

Under the plan, any buyer who pays more than the agreed amount will be barred from using European vessels to transport Russian oil. European diplomats also want these supplies not to be provided by EU companies.

But talks have stalled after some countries such as Poland demanded a lower limit than the $65-$70 threshold discussed, while Greece, home to most of the world’s oil tankers, would prefer the highest possible price .

Ukraine’s proposal to limit the prices of Russian oil

The same ceiling of $65-70 is being discussed at the level of negotiations of the G7 group, which, in addition to European countries (France, Germany, Italy and Great Britain), includes the USA, Japan and Canada.

However, last week Ukraine proposed to set a price ceiling for Russian oil near the threshold of 30-40 dollars per barrel.

“I believe that the limit being considered today is an artificial limit,” said President of Ukraine Volodymyr Zelenskyi, who constantly calls on allies to strengthen sanctions against Russia.

“We would like the sanctions to be very effective in this fight, so that the limit is at the level of $30-40, so that Russia feels (the sanctions),” he said at a press conference.

Apart from Poland, Estonia and Lithuania are campaigning in the EU for a lower ceiling, while Malta and Cyprus are in the Greek camp.

Follow the latest events of the 278th day of the war in Ukraine LIVETEXT on HOTNEWS.RO.