A: Hey there! Guess what's new?
B: What's up? I don't know anything new.
A: The EU decided to lower the price cap on Russian oil shipped by sea! Now it costs 47.6 dollars per barrel instead of 60. They do this to strengthen sanctions against Russia because they're still causing trouble in Ukraine.
B: Woah, that sounds serious! So, it's always 15% below the market price and they adjust it based on market fluctuations. And they review it every six months.
A: Exactly! They made this cap back in December last year with some other countries too. They want to hurt Russia's economy more by targeting their energy industry and cutting off revenue sources.
B: I see. Even Britain will do the same thing, but it's not clear if the US will join them yet.
A: That's right! The EU is also going to sanction 105 Russian vessels that transport oil around restrictions. They say this is to weaken Russia's ability to keep fighting in Ukraine.
B: That sounds tough. I hope Russia ends this war soon. The EU said they'll keep raising the pressure until it does.
----------------
The European Union has decided to lower the price cap on Russian crude oil shipped by sea to strengthen sanctions against Moscow, as the country continues its invasion of Ukraine.
The EU announced on Friday that the price cap will be lowered from 60 to 47.6 dollars per barrel. It says the cap is set always 15 percent below the average market price.
The bloc also said the price will be adjusted in line with market fluctuations in principle, and that the cap will be reviewed every six months.
The EU introduced the 60-dollar cap on Russian oil in December 2022, based on its agreement with the Group of Seven nations and Australia.
The EU aims to pressure Moscow to accept a ceasefire by dealing further blows to the energy industry that supports the country's economy, and cutting down a source of revenue.
Britain will take similar measures. The EU is expecting other G7 members to follow suit, but it is unclear whether the United States will join hands with them.
The European bloc also announced that it will impose sanctions on an additional 105 vessels in Russia's so-called shadow fleet. The vessels allegedly transport Russian oil while circumventing restrictions.
EU foreign policy chief Kaja Kallas said in a statement that the latest sanctions aim to weaken Moscow's ability to continue the fighting. She added, "The EU will keep raising the pressure until Russia ends its war."
B: What's up? I don't know anything new.
A: The EU decided to lower the price cap on Russian oil shipped by sea! Now it costs 47.6 dollars per barrel instead of 60. They do this to strengthen sanctions against Russia because they're still causing trouble in Ukraine.
B: Woah, that sounds serious! So, it's always 15% below the market price and they adjust it based on market fluctuations. And they review it every six months.
A: Exactly! They made this cap back in December last year with some other countries too. They want to hurt Russia's economy more by targeting their energy industry and cutting off revenue sources.
B: I see. Even Britain will do the same thing, but it's not clear if the US will join them yet.
A: That's right! The EU is also going to sanction 105 Russian vessels that transport oil around restrictions. They say this is to weaken Russia's ability to keep fighting in Ukraine.
B: That sounds tough. I hope Russia ends this war soon. The EU said they'll keep raising the pressure until it does.
----------------
The European Union has decided to lower the price cap on Russian crude oil shipped by sea to strengthen sanctions against Moscow, as the country continues its invasion of Ukraine.
The EU announced on Friday that the price cap will be lowered from 60 to 47.6 dollars per barrel. It says the cap is set always 15 percent below the average market price.
The bloc also said the price will be adjusted in line with market fluctuations in principle, and that the cap will be reviewed every six months.
The EU introduced the 60-dollar cap on Russian oil in December 2022, based on its agreement with the Group of Seven nations and Australia.
The EU aims to pressure Moscow to accept a ceasefire by dealing further blows to the energy industry that supports the country's economy, and cutting down a source of revenue.
Britain will take similar measures. The EU is expecting other G7 members to follow suit, but it is unclear whether the United States will join hands with them.
The European bloc also announced that it will impose sanctions on an additional 105 vessels in Russia's so-called shadow fleet. The vessels allegedly transport Russian oil while circumventing restrictions.
EU foreign policy chief Kaja Kallas said in a statement that the latest sanctions aim to weaken Moscow's ability to continue the fighting. She added, "The EU will keep raising the pressure until Russia ends its war."
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Summary
The European Union has reduced the price cap on Russian sea-shipped crude oil to $47.6 per barrel, aiming to intensify sanctions amidst Moscow's ongoing invasion of Ukraine. The cap is set at 15% below market prices and will be revised every six months in line with market fluctuations. The EU
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ID: 7dc6557c-3c24-45bf-8569-7e588888cfda
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250719_05/
Date: July 19, 2025
Created: 2025/07/20 07:01
Updated: 2025/12/08 03:19
Last Read: 2025/07/20 16:46