EU Ambassadors Agree On A Russian Oil Price Cap

European Union ambassadors reached an agreement on Wednesday to impose a new package of sanctions on Russia, including banning maritime transportation for Russian oil to third-party countries unless the oil is sold below or at a certain price cap. “Ambassadors reached a political agreement on new sanctions against Russia - a strong EU response to Putin’s illegal annexation of Ukrainian territories,” the Czech rotating presidency of the EU said in a tweet today. A written procedure now follows, and sanctions enter into force upon…