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The Guardian - UK
The Guardian - UK
World
Jennifer Rankin in Brussels

EU and UK lower price cap on Russian oil in bid to curb Kremlin’s war on Ukraine

European Union Kremlin United Kingdom Russia Oil Ukraine Kaja Kallas Vladimir Putin Foreign Policy G7
An oil refinery in Volgograd, Russia.
An oil refinery in Volgograd, Russia. The latest sanctions package includes restrictions on Russian pipelines and banks, as well as tech exports to the country. Photograph: Reuters

The EU and the UK have agreed to lower the price cap on Russian oil in a move to further clamp down on the Kremlin’s ability to wage war on Ukraine.

The EU has agreed to lower the cap on seaborne oil exports to $47.60 from $60 a barrel as part of what its foreign policy chief, Kaja Kallas, called “one of [the] strongest sanctions packages against Russia to date”.

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