(MENAFN- Trend News Agency)
EU ambassadors reached an agreement on the eighth package of
sanctions on Russia, including a price cap on Russian oil, reports citing
The package will be finalized on Wednesday, October 5, the
However, the decision on the actual price or price ranges of the
Besides, the new package of measures envisages restrictions on
Russia's steel industry and prohibits EU citizens from holding
senior posts in state-run Russian enterprises.
Malta, Greece and Cyprus, whose tanker fleets transport most
Russian oil, were worried about the impact of the latest round of
anti-Russian sanctions on their shipping industries. Therefore,
certain concessions were made to them, Politico reported.
Following a meeting of finance ministers from the Group of Seven
on September 2 in Berlin, the G7 club agreed to introduce a
proposed price cap on Russian oil to limit the country's revenues
from its export. For doing this the G7 member states seek to
establish a broad coalition and urge all countries that still seek
to import Russian oil and petroleum products to commit to doing so
only at prices at or below the price cap. Moscow warned it will
suspend supplies of oil and petroleum products to states that
decide to join this initiative.
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