Posted inEmbargoes and Sanctions European Union Group of Seven International Relations Oil (Petroleum) and Gasoline Prices (Fares, Fees and Rates) Russian Invasion of Ukraine (2022)
E.U. agrees on Russian oil price cap of $60 per barrel after fraught talks.
The price cap, devised by Group of 7 countries and their allies, aims to limit Russia’s revenue while averting a global oil shock.