EU Aims for $45 Oil Price Cap and Nord Stream Ban in New Sanctions ...Middle East

The European Commission is set to unveil later on Tuesday its new sanctions package against Russia, which will include a proposal to lower the oil price cap for Russia’s crude to $45 per barrel and to ban the use of Nord Stream infrastructure, sources with knowledge of the plan told the Financial Times. The new sanctions package, the EU’s 18th round of restrictions since the invasion of Ukraine, is set to include a proposal to significantly lower the price cap on Russian oil—to $45 from $60 a barrel. The price cap mechanism set…

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