Growth of oil prices over events in Middle East reflected on European Commission's plans to lower price cap for Russia - European Commission spokesperson

BRUSSELS. June 18 (Interfax) - The price cap on Russian oil was considered as part of the 18th package of EU sanctions against Russia and in the context of the G7 summit, but the increase of oil prices in connection with the aggravation in the Middle East made these plans less urgent, European Commission Spokesperson Arianna Podesta said.

"We have already put forward our proposal on the 18th sanction package and the oil price cap is part of this proposal [...] We should do everything possible to [...] limit the revenues possibilities of Russia [...] We remain committed to discussing with our partners the possibility of lowering the price cap [...] Compared to recent months the price of oil has been increasing because of the geopolitical situation. Therefore, the current price cap is already biting and hurting Russia. In this sense it is already playing its role at the current level," she told a briefing in Brussels on Wednesday.

"The proposal remains there and we will continue to work on it," she said. The Council of the European Union is considering the proposal.

Responding to a question as to whether the EU is ready to consider the possibility of introducing such measure without U.S. support, Podesta said, "I am not going to enter into that. It would be speculative. It's a hypothetical scenario. We are discussing with our partners, we have a proposal which is clear. If and when we get to that point we will see how to go about it. But for the time being we remain in contact with our partners."