The European Union (EU) reached an agreement today on limiting the prices of Russian oil derivatives, the Swedish EU presidency announced, two days before the start of the EU embargo on those products exported by sea.
"EU ambassadors today approved a ceiling on the price of Russian oil derivatives before it is finally adopted by the European Council," Swedish officials said, adding that it was "an important agreement that is part of the continued response of the EU and its partners to Russia's war of aggression against Ukraine." .
According to European diplomats, the deal includes a price ceiling of $100 per barrel for more expensive products such as diesel, as well as 45 euros per barrel for less refined products such as fuel oil.
This agreement is in accordance with the proposals of the European Commission.
Those prices refer to Russian oil products transported by EU ships.
The President of the European Commission, Ursula von der Leyen, said today that the pressure on Russia should continue so that it has less income to finance the war in Ukraine.
She added that an embargo on Russian oil products exported by sea will come into force on Sunday.
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