US EditionEU to Enforce New Dynamic Price Cap on Russian Oil on Sept. 3
EUROPEAN UNION, AUG 6 – The EU's sanctions aim to cut Kremlin energy revenues by lowering the Russian oil price cap to $45 per barrel and expanding financial restrictions on Russian banks and shipping.
6 Articles
6 Articles
The European Union will implement a new dynamic ceiling for Russian oil prices starting on 3 September, as part of the 18th anti-Moscow sanctions package, said Arianna Podesta, European Commission spokesman on 6 August, according to European Pravda.
The new, dynamic price ceiling for Russian oil set by the European Union's eighteenth package of sanctions against Russia will come into effect in four weeks, specifically on September 3. The newspaper Yevropeyskaya Pravda reported this on its website on Wednesday.
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Arianna Podestà, deputy chief spokesperson for the European Commission, also announced the date in a statement on Wednesday.
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