The countries of the European Union reached an agreement on the Friday to set a cap on the price of Russian oil as part of the retaliation against Moscow agreed with the G7 over the war against Ukraine, diplomatic sources said.
Specifically, the cap will be at least 5% below the price of Russian oil on the world market, a level to be reviewed every two months.
The pact stipulates that European shipping companies will not be able to ship Russian oil to third countries if the price per barrel exceeds the agreed limit.
Source: gr.euronews.com
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