The European Union has tentatively agreed to cap the price of Russian crude at $60 a barrel, an EU diplomat told Reuters on Thursday.

The deal must first be approved in writing by Poland, which has been pushing to cap Russian crude prices to the lowest possible level, and then by all EU governments by Friday’s deadline.

The United States warned the EU on Thursday that the recently quoted $52 for Ural crude oil may not reflect the overall level at which Russian oil…

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