Economy 2024-05-15T05:13:46+03:00
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EU And G7 Introduce Price Caps On Russian Oil Products

EU And G7 Introduce Price Caps On Russian Oil Products

G7, European Union, price caps, Russian oil products
HELP UKRAINIAN NEWS

The European Union and G7 are introducing price caps on Russian oil products.

The President of the European Commission Ursula von der Leyen stated this, European Pravda reports.

She noted that on Sunday, February 5, the EU ban on imports of Russian oil products will come into force.

“With the G7 we are putting price caps on these products, cutting Russia’s revenue while ensuring stable global energy markets,” she said.

Earlier on Friday, February 3, the Swedish Presidency of the Council of the EU reported that permanent representatives of the EU countries agreed on price caps for Russian oil products.

“EU ambassadors today approved the price caps on petroleum products ahead of final adoption by the EU Council. Important agreement as part of the continued response by EU and partners to the Russian war of aggression against Ukraine,” the Swedish Presidency of the Council of the EU said on Twitter.

Rikard Jozwiak, Europe Editor of Radio Free Europe, said that the EU countries agreed on price caps of USD 100 for Russian diesel and USD 45 for various oils.

Also, according to him, member countries gave a written commitment to revise the marginal price of Russian crude oil in March. Now the price is USD 60.

As Ukrainian News Agency earlier reported, on December 5, a decision of the EU Council came into force on the limit of the price of Russian oil and the prohibition of maritime transportation of Russian oil to third countries.

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