EU agrees on Russian oil price cap
BRUSSELS. Oct 5 (Interfax) - The European Union Committee of Permanent Representatives (COREPER) approved new sanctions against Russia on Wednesday, the Czech presidency in the EU said.
For instance, there will be a ban on the delivery of high-tech products to Russia and the provision of IT, engineering and legal services to Russian entities.
According to the Czech presidency, the sanctions prohibit third countries from transporting Russian oil by sea at a price exceeding the limit and from rendering respective services.
The approved package includes a ban on the imports of Russian steel products, wood pulp, paper, machinery, household appliances, chemicals, plastic and cigarettes.
New names will be added to the sanctions lists, and criteria will be set to identify the circumvention of sanctions.
The sanctions will apply to the Kherson and Zaporozhye regions that have entered into Russia.
The Czech presidency noted that a written procedure will follow and the sanctions will take effect after the relevant resolution is published in the Official Journal of the European Union.
Politico said on Tuesday with a reference to sources that permanent representatives of EU member states reached a preliminary agreement on the new package of anti-Russian sanctions, including the legal basis for the Russian oil price cap. No decision has been made on the actual price or price range for the future restrictions.
A number of EU member states expressed concern about the proposed measures, particularly, the oil price cap. Malta, Greece and Cyprus whose fleets help transport Russian oil said they were concerned about the possible fallout from the oil price cap on their transportation services. Concessions will be made to these countries, Politico said.