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EU approves $60 cap on Russian oil


The negotiators in the EU member states have apparently reached an agreement: They want to impose a maximum price for oil from Russia - and thus limit Moscow's financial leeway.

Enlarge image

Oil production in the Russian republic of Tatarstan

Photo: IMAGO/Yegor Aleyev / IMAGO/ITAR-TASS

The member states of the European Union (EU) have agreed on a price cap for Russian oil.

Together with international partners, they want to force Russia to start selling oil to buyers in other countries for a maximum of USD 60 (around EUR 57) per barrel (159 liters) from Monday.

A corresponding agreement was reached by government representatives after long negotiations in Brussels, as confirmed by several diplomats from the dpa news agency.


Source: spiegel

All business articles on 2022-12-02

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