The European Commission (EC) has received a letter from six EU member states from the Baltic and Northern Europe, calling for a reduction in the price cap on oil from Russia. This proposal will be reviewed by the G7 countries, announced EC spokesperson Olof Gill.
"The Commission has received this letter. It is currently under review by the G7. The G7 needs to analyze this proposal and collectively decide on the necessary actions," Gill stated during a briefing in Brussels on Monday.
He was responding to a request for comments on the initiative from Latvia, Lithuania, Estonia, Denmark, Finland, and Sweden, which was reported by European media.
According to Gill, the countries that signed the letter believe that the current state of the oil market allows for such a step.
The EC representative added that the European Commission "is continuously reviewing its restrictive measures."