EU approves price caps for Russian petroleum products
The Council of the EU on Saturday officially set two price caps for petroleum products which originate in or are exported from Russia at $100 per barrel for petroleum products traded at a premium to crude oil and $45 for petroleum products traded at a discount to crude.
"The Council decided today to set two price caps for petroleum products… which originate in or are exported from Russia," the Council of the EU said a statement released in Brussels.
The caps will become applicable as of February 5, 2023.
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