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European Union mulls $100 a barrel price cap for Russia diesel exports

The EU and G-7 want to impose the limits on Russian exports to third countries

european union

The European Union is floating a plan to cap the price of Russian diesel at $100 a barrel — a level that might help to stave off the very worst effects of a fuel-imports ban that the bloc will impose on Moscow in 10 days’ time.

The EU’s executive arm is considering cap levels after the G-7 nations offered a price range based in part on the existing cap on Russian crude oil. The thresholds are expected to apply from February 5, the same date as the EU will ban almost all imports of refined Russian products as punishment for

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First Published: Jan 28 2023 | 12:39 AM IST

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