The price cap has been set to stop the price from soaring
Image via Pexels.comA price cap has been set by the west on Russian oil - but Moscow and Kyiv are both unhappy about it.
The limit of 60 dollars a barrel is designed to stop the price from soaring.
Russia warns it stifles free markets.
While Ukraine think halving that amount would destroy the "enemy's economy faster".
Yesterday all European Union governments completed the written approval for the price cap.
The G7 countries put forward the recommendation in September.
The price cap on Russian oil will come into effect from this Monday, the 5th of December.
Anders Aslund, a senior fellow at the Stockholm Free World Forum, says western countries are apprehensive about introducing a tougher sanction.
"Poland and the three Baltic states [Estonia, Latvia, and Lithuania] agreed with Ukraine on this, but other European countries do not.
"They are afraid Russia might go on strike and not deliver oil to the global market. Prices would then rise and Russia would benefit. "
