EU Talks Stall Over Price Level for Proposed Russian Oil Cap

Talks between European Union nations on where to set a proposed Group of Seven price cap on Russian oil bogged down Wednesday, as governments split over how to design the plan, according to people familiar with the matter.

The EU’s executive arm proposed a level of $65 a barrel, which Poland and the Baltic nations rejected as being too generous to Moscow, the people said. But several countries with major shipping industries, including Greece, don’t want to go below $70, the upper end of the range put forward by the EU earlier Wednesday.