The bloc will limit the price to $60 per barrel and at least 5% below the market average The EU has decided to cap the price of Russian seaborne oil exports at $60 per barrel, according to the latest edition of the Official Journal of the EU, published on Saturday. “The Council decided today to set an oil price cap for crude oil and petroleum oils and oils obtained from bituminous minerals which originate in or are exported from Russia, at USD 60 per barrel,” the EU Council said in a statement following the publication. The measure is to come into effect on December 5, with a transition period of 45 days for vesse
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