EU countries agreed on introducing a price cap on Russian petroleum products

The Swedish Presidency of the Council of the EU noted on February 3, 2023, on Twitter, that the EU would introduce a price cap on Russian oil products: 100 USD for diesel, and 45 USD for various oils.

Source: The Swedish Presidency of the Council of the EU

“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,” tweeted the Swedish Presidency of the Council of the EU.

The President of the European Commission Ursula von der Leyen reported that the EU ban on the import of Russian oil products will come into force on February 5, 2023.

“Together with the Big Seven, we set the maximum prices for these products, reducing Russia’s income and ensuring the stability of global energy markets,” informed Ursula von der Leyen.

In addition, Rikard Jozwiak, the European editor of Radio Svoboda (Free), clarified that the EU countries agreed on a price cap of $100 for Russian diesel and $45 for various oils.

“Green light on the two price caps on Russian petroleum products (100 USD for diesel, 45 USD for various oils). Also written commitment for a review of the Russian crude oil cap (currently 60 USD) in March,” tweeted Rikard Jozwiak.

See also: European Union and the G7 countries agreed to introduce the price cap for Russian oil

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