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Von der Leyen, new sanctions on Moscow by 24 February


The price cap on Russian oil products "has been agreed with our G7 partners and will further erode Putin's resources to wage war. (ANSA)

The price cap on Russian oil products' has been agreed with our G7 partners and will further erode Putin's resources to wage war. By February 24, exactly one year into the invasion of Ukraine, we aim to implement the tenth package of sanctions".

This was stated by the president of the European Commission, Ursula von der Leyen, after the ok to the price ceilings on Russian oil derivatives.

"We are making Putin pay for his atrocious war. Russia is paying a heavy price, our sanctions are eroding its economy, setting it back a generation," he adds. 

The European Union and the G7 have definitively adopted the agreement on the price cap for Russian refined petroleum products transported by sea to third countries.

The agreement, approved yesterday evening by the ambassadors of the Twenty-seven, provides for a threshold of 100 dollars a barrel for high quality refined products, such as diesel, and 45 for low-end products, such as naphtha.

The measure will go into effect tomorrow.

The cap adds to the one already approved on Russian oil (set at 60 dollars a barrel), in force since December 2022. 

New consumer alarm

on the petrol front.

In fact, starting tomorrow 5 February, the embargo decided by the EU on Russian refined products will go into effect, a measure which - underlines Assoutenti - risks causing new increases in fuel prices at the pump with damage both in terms of supply costs and inflation .

The price lists at the pump - explains the president Furio Truzzi - could thus reach new records in Italy, considering that already today on the motorways the diesel in served mode has returned to exceed 2.5 euros per liter on various routes".

Source: ansa

All life articles on 2023-02-04

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