The European Union – together with the international G7+ Price Cap Coalition – have today adopted
further price caps for seaborne Russian petroleum products (such as diesel and fuel oil). This
decision will hit Russia’s revenues even harder and reduce its ability to wage war in Ukraine. It will
also help stabilise global energy markets, benefitting countries across the world.
It comes on top of the price cap for crude oil in force since December 2022, and will complement the
EU’s full ban on importing seaborne crude oil and petroleum products into the European Union.
Full info here
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