The governments of the Scandinavian and Baltic EU member states have called on the EU Commission to advocate a reduction in the oil price cap on imports of Russian oil. „The international oil market is better supplied today than in 2022, which reduces the risk of a supply shock from a lower price cap,“ write the foreign ministers of Sweden, Denmark, Finland, Estonia, Lithuania and Latvia in a letter to High Representative for Foreign Affairs Kaja Kallas and Commissioner for Financial Markets Maria Luís Albuquerque.