EU Price Cap On Russian Crude Oil To Stay At $60 A Barrel
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The price cap on Russian crude oil is working and will remain at $60 per barrel for now, the European Commission told the EU member states this week, Bloomberg reported on Friday, citing sources with knowledge of the matter. The EU banned from December 5 maritime transportation services from shipping Russia’s crude oil to third countries if the oil is bought above the price cap of $60 per barrel, and imposed an embargo on seaborne imports of Russian oil into the EU. The EU believes that the price cap is working in its dual purpose to…
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