EU oil price cap

EU countries agreed on Friday on a European Commission proposal to set price caps on Russian refined oil products, the Swedish presidency of the European Union said. EU diplomats said the price caps agreed by ambassadors for the 27 EU…

BRUSSELS: The European Union reached a deal Friday for a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding…