Price ceiling: EU countries run out of oil, says Putin | | price cap on Russian oil

MOSCOW: The European Union has set a price ceiling for Russian oil. The Russian President in the message prohibiting the export of oil to them Signed by Vladimir Putin. The ban will come into effect from February 2023.

Earlier this month, Russia could cut oil production and cap prices. Putin indicated that he would not sell oil to any of the participating states. The G-7 countries, the European Union, and Australia have been After setting the price of China’s crude oil at $60 per barrel There was his reflection.

Russian crude is less than five percent below the market price. However, the European Union price ceiling is less fixed. doing The price range will be revised every two months.

At $60 now fixed due to price cap If you try to sell some oil, Europe-based shipping, insurance NZ and finance companies will not provide transfer services. Ukraine occupation cuts Russia’s revenue stream US Treasury Sec. Portrayed by Terry Janet Yellen.