As of Sunday, no Russian oil products can be imported into the European Union, per the latest sanction hit of Brussels against Moscow. The embargo has been combined with a price cap, agreed upon with the G7 in the same way that the EU and the G7 coordinated the price cap on Russian crude last year. The price caps were agreed at $100 per barrel of diesel, which trades at a premium to crude oil, and $45 per barrel of fuel oil and other oil products that trade at a discount to crude oil.
The price cap applies to Russian fuel cargoes shipped on vessels…EU Embargo On Russian Oil Products Enters Into Effect
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