European Commission submits Russian oil product price limit offer

BRUSSELS, Jan 27 (PRIME) -- The European Commission has submitted a proposal to limit prices of Russian oil products for consideration of the E.U. states, a representative for the authority told PRIME on Friday.

"The European Commission offered additional sanctions on January 26 of 2023 as a response to the continuing escalation… in Ukraine and involvement of Belarus in (this)," the official said.

Bloomberg reported on Thursday that the E.U. would limit the price for oil products traded with a premium to crude at U.S. $100 per barrel and for those sold at a discount at $45.

The official added that the measures include a limit on Russian oil product prices and several trade sanctions against Belarus, which would take the overall E.U. sanctions burden on the country to the level of Russia.

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