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The G7 plans to set two price caps for Russian oil products in order to account for those sold at prices above and below the price of oil.
Beginning on February 5, the EU plans to prohibit the import of refined goods from Russia, and impose price ceilings on diesel fuel, naphtha (a refined hydrocarbon mixture obtained at the initial step of oil distillation) and fuel oil exports to third countries.
The price of Russian oil delivered by water was capped by the G7 in December; it was set at $60 per barrel. Additionally, a price ceiling for gas was agreed upon at somewhat less than $2,000 per 1,000 cubic meters.
source: bloomberg.com
Beginning on February 5, the EU plans to prohibit the import of refined goods from Russia, and impose price ceilings on diesel fuel, naphtha (a refined hydrocarbon mixture obtained at the initial step of oil distillation) and fuel oil exports to third countries.
The price of Russian oil delivered by water was capped by the G7 in December; it was set at $60 per barrel. Additionally, a price ceiling for gas was agreed upon at somewhat less than $2,000 per 1,000 cubic meters.
source: bloomberg.com