Bloomberg: EU proposes 90-day transition period for changing oil price ceiling

“The EU proposes a 90-day transition period in case of any future changes in the level of the price limit (oil. -

),” Bloomberg said, citing the document.

The European Union also proposed a 45-day transition period after the Dec. 5 Russian oil price ceiling was announced.

Russian President Vladimir Putin has said that Russia will not act to its own detriment if Western countries impose a price ceiling on Russian energy resources.