Situation report day 275
November 25, 2022 - EU is debating a price cap on Russian oil in a bid to curb funding for the war, while Russia says it has no plans to supply oil and gas to those applying a cap.
A G7 proposal for a $60-70 per barrel price cap was seen as far too high by many EU members, but too low by others. Poland has suggested a cap as low as $30/barrel, given that Russian production costs are estimated at only $20, meaning the G7 proposal would allow Russia too much profit. Cyprus, Greece and Malta, who depend on Russian oil for their shipping industries, have warned that they would need compensation for lost business and more time to adjust if a cap were put in place.
- Russian Offensive Campaign Assessment (ISW)
- Russia-Ukraine war at a glance: what we know on day 275 of the invasion (The Guardian)
- Ukraine and Russia: What you need to know right now (Reuters)