16.01.2026, 07:03
The European Union will lower the ceiling on oil prices from Russia on February 1
Source: OREANDA-NEWS
OREANDA-NEWS Starting from February, the European Union will lower the ceiling on prices for Russian oil from 47.6 to 44.1 dollars per barrel, according to the EU Commission regulation 2026/124.
"The price of crude oil is replaced by the following: 44.1 — February 1," the document says.
As reported by Reuters, the G7 and the EU are negotiating to replace the price ceiling with a complete ban on shipping petroleum products by sea. According to the newspaper, this decision may be made in the next sanctions package of Brussels.
Starting from December 5, 2022, the G7 countries, Australia and the EU imposed a limit on oil transportation by sea at the level of $ 60 per barrel. A similar measure on petroleum products entered into force on February 5, 2023.
"The price of crude oil is replaced by the following: 44.1 — February 1," the document says.
As reported by Reuters, the G7 and the EU are negotiating to replace the price ceiling with a complete ban on shipping petroleum products by sea. According to the newspaper, this decision may be made in the next sanctions package of Brussels.
Starting from December 5, 2022, the G7 countries, Australia and the EU imposed a limit on oil transportation by sea at the level of $ 60 per barrel. A similar measure on petroleum products entered into force on February 5, 2023.
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