Baku 25° C
EU cuts Russian oil price cap to $47.60 - Now in effect
Energy
- 03 September, 2025
- 15:34
The European Union, as part of its 18th sanctions package against Russia, has lowered the price cap on Russian oil from $60 to $47.6 per barrel as the decision came into effect on September 3, the official website of the European Union, Report informs via RBC-Ukraine.
A transition period has been set until October 18, 2025, for the fulfillment of any contracts concluded before July 20, 2025, which were based on a $60-per-barrel price at the time of signing.
On July 18, EU member states approved the new sanctions package against Moscow, including a cap on the minimum price for Russian oil.
Author
Latest News
01:32
Photo
Video
Shusha Global Media Forum participants tour newly built Karabakh Street
Media18:35
Photo
Participants of 4th Shusha Global Media Forum start their trip to Karabakh
Media17:51
Omani authorities rescue 23 sailors from GFS Galaxy, search for missing sailor continues
Other countries17:31
Türkiye's Cabinet to discuss NATO summit, Ukraine and Middle East
Region17:07
Ukraine's Zelenskyy says he will replace Prime Minister Svyrydenko
Other countries16:54
FIFA to examine 64-team World Cup expansion before 2030 tournament – Infantino
Football16:26
Iraqi prime minister to visit Washington on Monday; oil and gas deals expected
Other countries16:05
Lionel Messi breaks all-time World Cup assist record
Sports15:39