On December 5, the decision on the embargo on the supply of Russian oil to the countries of the European Union officially enters into force.

Also, the price ceiling for Russian raw materials introduced by the European Union, G7 and Australia starts working from this day.

This is

by the official journal of the European Union.

Now Russian oil can be bought only at prices that do not exceed 60 dollars per barrel.

The embargo on Russian oil was agreed back in May, an exception was made only for Bulgaria and oil that will be supplied through the Druzhba pipeline.

In addition, the new sanctions will prohibit European companies from insuring the transportation of Russian oil by sea to third countries.

On February 5, 2023, similar restrictions will also apply to Russian oil products.

The restrictions mean that companies will not be able to provide insurance and other services for the sea transportation of Russian oil to third countries if it is bought above the price ceiling.

It will be recalled that earlier it was reported that the head of the Hungarian Foreign Ministry, Peter Szijártó, stated that

.

In addition, we previously informed that in Russia there was a hysteria due to oil price restrictions and they 

Read also:

• This is a weak position: Zelenskyi on limiting the price of Russian oil at the level of 60 dollars per barrel

• Russian oil fell sharply in price: Bloomberg explained the cost limit

• China partially suspended the purchase of crude oil from the Russian Federation: Bloomberg named the reason

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