EU eyes $100/barrel cap on Russian premium oil products, $45 on discounted

BRUSSELS - The European Commission is proposing that the EU set a $100 per barrel price cap on premium Russian oil products like diesel and a $45 per barrel cap on discounted products like fuel oil, an EU official said on Thursday.

The proposal was sent to EU governments, whose representatives will discuss it at a meeting on Friday afternoon, with a view to a deal before the price cap on imported Russian oil products is to come into force on Feb 5th, in line with an agreement by G7 countries.