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Western Nations Discuss Price Caps on Russian Oil Products
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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.
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