BRUSSELS (AP) — The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of extra profits to fund its war in Ukraine as part of a new raft of sanctions aimed at ...

The European Union has reached an agreement on a new sanctions package against Russia, which includes a lower price cap for Moscow's crude oil barrels. Stream NBC 5 for free, 24/7, wherever you are.

This week, the EU will propose lowering the current price cap (US$60 per barrel) on Russian oil transported by sea at the G7 finance ministers’ meeting. Source: Valdis Dombrovskis, European ...

The oil tanker Eventin, sanctioned by the EU as part of Russia's shadow fleet, lying in the Sassnitz roadstead in Sassnitz, Germany, on Jan. 12, 2025. (Stefan Sauer / dpa Picture-Alliance via AFP) ...

BRUSSELS (Reuters) -The European Commission proposed on Friday a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats said. The ...

The European Commission will propose a floating price cap on Russian oil this week as part of a new sanctions package, in an effort to overcome resistance from some EU member states, Reuters reports.

The European Commission has presented new sanctions against Russia to the 27 EU member states, highlighted by a lowering of the cap on the price of Russian oil, as the bloc looks to find a unanimous ...

The European Union finally managed to approve a new round of sanctions on Russia -- as well as Belarus -- before going on its traditional all-August recess, eventually overcoming a Slovak veto in a ...