EU Plans to Set Price Cap on Russian Diesel at $100 Per Barrel

The EU’s shipping price cap on Russian diesel and fuel oil takes effect on February 5, and the European Commission is thinking of setting the initial cap level at $100 per barrel, according to Bloomberg. 

Unlike the G-7 Russian oil price cap, which is a broad multilateral measure, the EU is taking its own steps in banning Russian oil products. The measures include an outright EU-wide ban on imports of Russian diesel and fuel oil, plus a cap on the allowable sale price for cargoes shipped using EU services.

View entirety: The Maritime Executive