Western Nations Discuss Price Caps on Russian Oil Products
The U.S. and its allies are discussing the levels for two price caps on Russian petroleum products, which the Western nations are preparing to impose on Feb. 5 in an expansion of their sanctions on Russia’s oil industry.
The two caps, one on high-value oil products such as diesel and the other on low-value products such as fuel oil, come in addition to the West’s cap on Russian crude. The allies decided last month to set that at $60 a barrel.
Western officials are trying to…