European Union member states were nearing consensus on the level of the bloc’s price cap for Russian crude oil exports, centered on the $60-barrel mark.

It was their latest attempt to reach a deal before the December 5 deadline for tougher EU sanctions to come into force.

A mechanism was also discussed to allow regular bi-monthly assessments and possible revisions from mid-January 2023. Bloomberg reported.

Any future price cap revisions should also result in…

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