Cargoes that were loaded before the restrictions kicked in will be exempted from the sanctions, the Foreign Ministry has said Japan has joined its Western allies by adopting measures limiting the price of Russian oil products, the Foreign Ministry announced on Monday. The EU and G7 countries introduced two price caps on Russian imports which target refined products trading at a premium to oil and those which are sold at a discount. The agreed ceiling for diesel is $100 per barrel, and $45 a barrel has been set for discounted products such as fuel oil. The mechanism went into effect on February 5, two months after
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