The US Deputy Treasury Secretary held a meeting with colleagues from the Price Cap coalition, as a result, additional price restrictions were imposed on Russian crude oil. MPs agreed to an approach to refined products that would impose two separate limits in addition to limiting raw materials, according to the US agency's website..

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One limitation for products that are typically sold with crude oil added, such as diesel or gas oil. Another price constraint is for products sold at a lower price, such as fuel oil.

“This approach will better calibrate the policy of limiting the prices of petroleum products, given the wide range of market prices at which these products are sold,” said in an explanation following an online meeting of the head of the department, Wally Adeyemo, with colleagues..

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The site also notes the coalition's twin goals of limiting Russia's oil revenues and stabilizing global energy supplies..

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MPs agree to revise crude oil price cap level in March. This will allow the Coalition to take into account developments in world markets after the introduction of limits on petroleum products, and will also allow the Coalition to inform about the results of the EU technical inspection of the price limit for crude oil.