US EditionThe G7 Plans to Set Two Price Caps on Russian Oil Products, While Seven EU Countries Look to Impose Tariffs on Russian Goods.
5 Articles
5 Articles
The Coalition seeks to deprive Moscow of income.
The G7 coalition will seek to set two price limits on Russian oil products in February next year: one for products traded at a premium to crude oil and the other for those traded at a discount.
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The G7 plans to set two price caps on Russian oil products, while seven EU countries look to impose tariffs on Russian goods.
The coalition (which includes the US, Canada, Japan, Australia, and 27 EU countries) has already established a price cap on Russian crude oil at $60 per barrel effective December 5 2025, in addition to the EU embargo on seaborne supplies. From February 5 2026, the coalition intends to place price caps on Russian oil products such as diesel, kerosene, and fuel oil. Setting a cap on oil products is more complex than on crude oil because there are …
Reuters reports. A coalition spokesman, who wished to remain unnamed, explained that “for products such as diesel fuel or kerosene, which are usually traded more expensive than crude oil, we are considering a higher price limit. At the same time, a lower limit is planned for fuel oil or other cheaper fuels.” The coalition, which includes Australia, Canada, Japan, the United States and 27 EU countries, has already imposed a limit price for Russia…
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