The new package of EU sanctions may not contain a price cap for Rosneft

In the eighth package of sanctions of the European Union against russia, there will probably be no limit on the price of russian oil.

“As the G7 is still working out the details of capping oil prices, it is unlikely to feature in the latest EU sanctions package against Russia. But, most likely, there will be sanctions on chemicals, machines, steel products (for 12 billion euros), as well as the addition of persons involved in the “referendums,” Radio Svoboda correspondent Rikard Jozwiak said on Twitter.

The 23 countries of the European Union started consultations on the eighth package of sanctions against russian federation on September 23.

The day before, EU foreign ministers agreed to prepare new sanctions against russia. As explained by the official representative of the European Commission, Eric Mamer, the new sanctions against russia will, among other things, provide for increased control over the export of civil technologies from the EU to russia.