Russian crude blended with petroleum products in a third country would be exempt from a price cap, according to new guidance The European Union has issued exceptions to its embargo on Russian petroleum products which came into force on February 5. According to guidance published on the website of the European Commission on Tuesday, if a Russian petroleum product is processed by being blended in a third country with a product from another third country, it will no longer be considered of Russia origin and the price cap will not apply. “The price cap will no longer apply after the crude oil or petroleum products hav
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