Energy News

European Union imposes $100 price cap for Russian diesel fuel


The European Council officially approved the decision to impose the price cap on Russian oil products, shipped by sea, at $100 for diesel fuel and $45 for products that trade at a discount, press offices of the European Council and the European Commission announced Saturday. The price cap will be valid for Western businesses and logistical companies and territories under Western control, with a transitional period that will start on February 5 and will last for 55 days.

The first price cap for petroleum products traded at a discount to crude oil is set at USD 45 per barrel, while the second price cap for petroleum products traded at a premium to crude is set at USD 100 per barrel,” the European Council said in its statement.

Read the full story on TASS


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