Russia 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…

A price cap and European Union embargo on most Russian oil have cut into Moscow’s revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its war in Ukraine because the US$60-per-barrel cap was “too…

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<!-- -->Putin said that Moscow will announce retaliatory steps "in the next few days". (File)Moscow: President Vladimir Putin warned Friday that Russia could reduce oil production in response to a $60 price cap on its oil exports…

Oil prices edged higher on Tuesday, after a G7 price cap on Russian seaborne oil came into force on Monday on top of a European Union embargo on imports of Russian crudeby sea. Brent crude futures had risen 66 cents to $83.34 a barrel by…

The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut…

KYIV: Russian authorities rejected a price cap on the country's oil set by Ukraine's Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the…

<!-- -->EU reached a deal on Friday for a USD 60-per-barrel price cap on Russian oil. (File)Washington: The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an "important tool" that will benefit…

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