The EU may impose a price limit on Russian diesel fuel

The European Union is considering the possibility of introducing a price limit on Russian diesel fuel at $100 per barrel.

The European Union is also exploring the possibility of setting a ceiling on the price of petroleum products from Russia, which are traded at a discount, for example for fuel oil, at $45.

Currently, negotiations are underway in the EU and G7 countries on the price level, but so far the values vary greatly and are unstable. 

Earlier, the US Treasury Department reported that the United States, together with its allies, agreed to introduce two price ceilings for petroleum products from Russia. Since December 5, 2022, Western oil sanctions have already come into force: the EU has stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU have imposed a limit on oil prices for sea transportation at $60 per barrel.

Since February, the countries also intend to impose price restrictions on petroleum products from the Russian Federation, when the European Union refuses to purchase them and prohibits their transportation by sea.

In response, Russia has banned the supply of oil to foreign persons since February 1 of this year, if the contracts directly or indirectly provide for the use of a mechanism for fixing the marginal price.