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Europe’s Energy Crisis and the Transatlantic Partnership

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The Price Cap on Russia's Oil Prices

Russia used to make 25% of European crude oil consumption and 40% of the European road diesel consumption. Now Europe imports, for example, oil products that are refined in other countries from Russian crude. The idea of the price cap was not to impede Russia to export crude oil and oil products, but the idea was to actually keep the market with Russian supplies. We still have another problem with Russia because then we cut the cold supplies that is done, but we have nuclear fuel. I think it's very important to move forward with sanctions on nuclear fuel strategically.

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