The EU Commission President Ursula von der Leyen and High Representative Kaja Kallas have just announced the approval of the new sanctions package against Russia and the new price oil cap, setting the buying price of Russian oil at 15% below the market rate. At the current average market rate of $54 and $55 Russian Urals crude oil would have to be sold at around $47. Russian Urals oil is already sold at a discount from Brent crude which is currently trading at around $66.
The new sanctions include a ban all Nordstream pipelines and a new list of oil vessels of the Russian shadow-fleet.
The document with the full list of sanctions will be hyperlinked soon.
Newsroom
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