Non-EU Countries Impose EU Russian Oil Price Caps, Ukraine Sanctions Move
A group of European countries not in the EU aligned with two recent sanctions decisions made by the bloc, the European Council announced. On Jan. 30, the council amended the list of individuals and entities subject to its sanctions regime pertaining to those undermining the sovereignty of Ukraine. The countries of North Macedonia, Montenegro, Albania, Ukraine, Bosnia and Herzegovina, Iceland, Liechtenstein and Norway also imposed the decision, the council said Feb. 14.
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On Feb. 4, the council imposed two price caps for oil products from Russia at or below which the goods are exempt from the ban on the provision of maritime transport of these products to third countries. The caps stand at $45 per barrel for petroleum goods traded at a discount to crude oil and $100 per barrel for petroleum products traded at a premium to crude oil (see 2302060024). The countries of North Macedonia, Montenegro, Albania, Ukraine, Bosnia and Herzegovina, Iceland, Liechtenstein and Norway also imposed the caps, the council said.