The European Union plans to implement a $100-per-barrel limit on Russian diesel fuel. Restricting fuel imports because of the ban could cause the worst consequences. A set price level could help overcome them.
The EU will ban almost all imports of refined Russian products on February 5. A decision to limit fuel prices is expected to be made then as well.
Diesel fuel is trading at a higher price than oil. Reliable sources report that this restriction applies specifically to products such as diesel fuel. In addition, it is known that cheaper fuels such as fuel oil will have a lower cap of $45. Participating states have not yet entered into negotiations on the issue, so the possibility of changing the numbers remains.
A more formal discussion of price levels among EU diplomats will begin on Friday. Negotiations are expected to take the next few days. Some countries are also considering stronger restrictions and broader sanctions.