European Commission wants lower price cap for Russian oil

European Commission wants lower price cap for Russian oil

The European Commission proposes to the United States and the other G7 members to lower the price cap on the export of Russian crude oil from $60 to $45 per barrel. This was announced by President Ursula von der Leyen on Tuesday during the presentation of a new package of sanctions against Russia.

EU increases import tariffs on Russian agricultural products

EU increases import tariffs on Russian agricultural products

The European Union is increasing import tariffs on agricultural products and fertilizers from Russia and Belarus, which previously had no additional customs duties. For agricultural products, this means an increase of 50 percent. This was decided by the EU member states on Thursday. The aim of the new tariffs is to reduce the EU’s dependence on these imports and to lower Russian export revenues.