{"id":125634,"date":"2022-12-07T03:00:52","date_gmt":"2022-12-07T02:00:52","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=125634"},"modified":"2022-12-05T11:35:03","modified_gmt":"2022-12-05T10:35:03","slug":"eu-agrees-on-maximum-price-for-a-barrel-of-russian-crude-oil","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/eu-agrees-on-maximum-price-for-a-barrel-of-russian-crude-oil\/","title":{"rendered":"EU agrees on maximum price for a barrel of Russian crude oil"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>The Council has decided to set an oil price cap for crude oil and petroleum oils and oils obtained from bituminous minerals (CN code 2709 00) which originate in or are exported from Russia, at USD 60 per barrel.<\/strong><\/p>\n<figure id=\"attachment_125635\" aria-describedby=\"caption-attachment-125635\" style=\"width: 679px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/12\/20221006-russian-tanker-highlight.jpg\"><img decoding=\"async\" class=\" wp-image-125635\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/12\/20221006-russian-tanker-highlight-1024x577.jpg\" alt=\"barco petrolero\" width=\"679\" height=\"383\" srcset=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/12\/20221006-russian-tanker-highlight-1024x577.jpg 1024w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/12\/20221006-russian-tanker-highlight-300x169.jpg 300w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/12\/20221006-russian-tanker-highlight-768x433.jpg 768w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/12\/20221006-russian-tanker-highlight.jpg 1151w\" sizes=\"(max-width: 679px) 100vw, 679px\" \/><\/a><figcaption id=\"caption-attachment-125635\" class=\"wp-caption-text\">An aerial view shows the Sunny Liger, a Marshall Islands-flagged tanker with a consignment of Russian diesel, anchored in the North Sea, near IJmuiden, on April 30, 2022. &#8211; Dutch dock workers on April 30 refused to unload the tanker carrying Russian fuel in Amsterdam, a day after a similar action kept the ship from entering Rotterdam. The Sunny Liger, a 42,000-tonne tanker was currently lying at anchor off Amsterdam, while port companies were mulling her entry into the Dutch capital. (Photo by Paul Martens \/ ANP \/ AFP) \/ Netherlands OUT<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">The level of the cap was established in close cooperation with the\u00a0<strong>Price Cap Coalition<\/strong>\u00a0and will become applicable as of\u00a0<strong>5 December 2022<\/strong>.<\/p>\n<p style=\"text-align: justify;\">The price cap on Russian oil will limit price surges driven by extraordinary market conditions and drastically reduce the revenues Russia has earned from oil after it unleashed its illegal war of aggression against Ukraine. It will also serve to stabilise global energy prices while mitigating adverse consequences on energy supply to third countries.<\/p>\n<p style=\"text-align: justify;\">On 6 October 2022, the Council adopted a decision prohibiting the maritime transport of Russian crude oil (as of 5 December 2022) and petroleum products (as of 5 February 2023) to third countries, and the related provision of technical assistance, brokering services or financing or financial assistance.<\/p>\n<p>&nbsp;<\/p>\n<table style=\"width: 99.9988%; border-collapse: collapse; border-style: double; border-color: #001f7d;\" cellpadding=\"0,5\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><a href=\"https:\/\/www.cde.ual.es\/en\/throwing-mud-at-everyone-and-hoping-some-of-it-sticks\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignleft\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/11\/telarana-1024x576.png\" alt=\"\" width=\"166\" height=\"93\" \/><\/a><\/p>\n<h4 class=\"entry-title\"><a href=\"https:\/\/www.cde.ual.es\/en\/throwing-mud-at-everyone-and-hoping-some-of-it-sticks\/\" target=\"_blank\" rel=\"noopener\">Throwing mud at everyone and hoping some of it sticks<\/a><\/h4>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The Council decision also introduced an\u00a0<strong>exemption<\/strong>\u00a0from the above-mentioned prohibitions\u00a0<strong>for crude oil or petroleum products<\/strong>\u00a0<strong>which<\/strong>\u00a0originate in or are exported from Russia, and\u00a0<strong>are purchased at or below a pre-established price cap<\/strong>\u00a0agreed by the Price Cap Coalition.<\/p>\n<p style=\"text-align: justify;\">Today&#8217;s decision sets the level at which the exemption apply, and introduces a\u00a0<strong>transition period of 45 days<\/strong>\u00a0for vessels carrying crude oil originating in Russia, purchased and loaded onto the vessel prior to 5 December 2022 and unloaded at the final port of destination prior to 19 January 2023. As the price cap may be periodically reviewed to adapt to the market situation, today&#8217;s decision also sets a\u00a0<strong>transition period of 90 days\u00a0<\/strong>after every change in the price cap, to ensure coherent implementation of the price cap by all operators.<\/p>\n<p style=\"text-align: justify;\">The functioning of the price cap mechanism will be reviewed every two months to respond to developments in the market, and will be set at least 5% below the average market price for Russian oil and petroleum products, calculated on the basis of data provided by the International Energy Agency.<\/p>\n<p style=\"text-align: justify;\">The Council also introduced an &#8220;<strong>emergency clause<\/strong>&#8221; which allows the transport of oil beyond the price cap or the provision of technical assistance, brokering services or financing or financial assistance related to the transport, when these are necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on\u00a0<strong>human health and safety<\/strong>\u00a0or the\u00a0<strong>environment<\/strong>, or as a response to\u00a0<strong>natural disasters<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<table style=\"width: 99.9988%; border-collapse: collapse; border-style: double; border-color: #001f7d;\" cellpadding=\"0,5\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><a href=\"https:\/\/www.cde.ual.es\/en\/european-parliament-declares-russia-to-be-a-state-sponsor-of-terrorism\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"alignleft\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/11\/20221121PHT56203-cl-1024x682.jpg\" alt=\"\" width=\"166\" height=\"93\" \/><\/a><\/p>\n<h4 class=\"entry-title\"><a href=\"https:\/\/www.cde.ual.es\/en\/european-parliament-declares-russia-to-be-a-state-sponsor-of-terrorism\/\" target=\"_blank\" rel=\"noopener\">European Parliament declares Russia to be a state sponsor of terrorism<\/a><\/h4>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">In the face of Russia&#8217;s war of aggression, the EU stands resolutely with Ukraine and its people, and is unwavering in its support of Ukraine&#8217;s independence, sovereignty and territorial integrity within its internationally recognised borders.<\/p>\n<p style=\"text-align: justify;\"><strong>Source: <a href=\"https:\/\/www.consilium.europa.eu\/es\/press\/press-releases\/2022\/12\/03\/russian-oil-eu-agrees-on-level-of-price-cap\/\">European Council<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Council has decided to set an oil price cap for crude oil and petroleum oils and oils obtained from bituminous minerals (CN code 2709 00) which originate in or are exported from Russia, at USD 60 per barrel. The level of the cap was established in close cooperation with the\u00a0Price Cap Coalition\u00a0and will become [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":125635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4075,4086,4085,346,4078],"tags":[],"class_list":{"0":"post-125634","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-defence-security","8":"category-energy","9":"category-environment","10":"category-eu-news","11":"category-internat-safety-pol","12":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EU agrees on maximum price for a barrel of Russian crude oil | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/la-ue-acuerda-el-precio-maximo-del-barril-de-crudo-ruso\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU agrees on maximum price for a barrel of Russian crude oil | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"The Council has decided to set an oil price cap for crude oil and petroleum oils and oils obtained from bituminous minerals (CN code 2709 00) which originate in or are exported from Russia, at USD 60 per barrel. 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The Sunny Liger, a 42,000-tonne tanker was currently lying at anchor off Amsterdam, while port companies were mulling her entry into the Dutch capital. 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The Sunny Liger, a 42,000-tonne tanker was currently lying at anchor off Amsterdam, while port companies were mulling her entry into the Dutch capital. (Photo by Paul Martens \/ ANP \/ AFP) \/ Netherlands OUT"},{"@type":"BreadcrumbList","@id":"https:\/\/www.cde.ual.es\/la-ue-acuerda-el-precio-maximo-del-barril-de-crudo-ruso\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Inicio","item":"https:\/\/www.cde.ual.es\/en\/"},{"@type":"ListItem","position":2,"name":"Noticias UE","item":"https:\/\/www.cde.ual.es\/category\/noticias-ue\/"},{"@type":"ListItem","position":3,"name":"Defensa y Seguridad","item":"https:\/\/www.cde.ual.es\/category\/noticias-ue\/defensa-seguridad\/"},{"@type":"ListItem","position":4,"name":"International Safety and Defence Politics","item":"https:\/\/www.cde.ual.es\/en\/category\/eu-news\/defence-security\/internat-safety-pol\/"},{"@type":"ListItem","position":5,"name":"EU agrees on maximum price for a barrel of Russian crude oil"}]},{"@type":"WebSite","@id":"https:\/\/www.cde.ual.es\/#website","url":"https:\/\/www.cde.ual.es\/","name":"CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","description":"Centro de Documentaci\u00f3n Europea de la Universidad de Almer\u00eda","publisher":{"@id":"https:\/\/www.cde.ual.es\/#organization"},"alternateName":"CDE Almer\u00eda","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cde.ual.es\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.cde.ual.es\/#organization","name":"Centro de Documentaci\u00f3n Europea de Almer\u00eda","url":"https:\/\/www.cde.ual.es\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cde.ual.es\/#\/schema\/logo\/image\/","url":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2025\/07\/cde-logo-3.png","contentUrl":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2025\/07\/cde-logo-3.png","width":1400,"height":300,"caption":"Centro de Documentaci\u00f3n Europea de Almer\u00eda"},"image":{"@id":"https:\/\/www.cde.ual.es\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/cdeuniversidadalmeria\/","https:\/\/x.com\/cdeualmeria","https:\/\/www.tiktok.com\/@cdealmeria","https:\/\/www.instagram.com\/cdealmeria\/","https:\/\/www.linkedin.com\/in\/cde-almera-812b26a9\/"]},{"@type":"Person","@id":"https:\/\/www.cde.ual.es\/#\/schema\/person\/224ef08c8bcc005f319d2713ce37ee5f","name":"AdminCDE","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g","caption":"AdminCDE"}}]}},"_links":{"self":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts\/125634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/comments?post=125634"}],"version-history":[{"count":1,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts\/125634\/revisions"}],"predecessor-version":[{"id":125647,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts\/125634\/revisions\/125647"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/media\/125635"}],"wp:attachment":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/media?parent=125634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/categories?post=125634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/tags?post=125634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}