European Union member countries are still unable to reach a consensus on new sanctions against Russia. This internal disagreement brings the revision of the current oil price cap to the agenda.
If the price cap is raised, a significant increase is expected in Russia's oil revenues. This situation could weaken the initial goal of the sanctions, which is to keep the Russian economy under pressure.
This division within the EU regarding its price cap policy applied to Russian oil also increases uncertainties in the energy markets. The inability of member states to form a common decision makes the geopolitical response capability of the union questionable.
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