#Routes

EU May Keep Russian Oil Price Cap Unchanged at $44 per Barrel to Pressure Moscow

The European Commission may propose keeping the G7 price cap on Russian crude unchanged at $44.10 per barrel during its July review to curb Moscow's windfall from the Iran war and oil price shock. The measure could serve as a compromise to a stalled maritime services ban on Russian oil. Brent oil futures were trading around $93 a barrel on Monday, with analysts raising 2026 average oil price predictions by 40% to around $90 per barrel since February.