Canada, allies to lower price cap for Russian oil to $47.60 per barrel
ReutersAug 8, 2025 8:17 PM
TORONTO, Aug 8 (Reuters) - The Canadian government and some of its closest allies intend to lower the price cap for Russian oil over its continued war in Ukraine, the country's finance department said in a statement on Friday.
Canada, the European Union and the United Kingdom will lower the price cap for seaborne Russian-origin crude oil to $47.60 from $60 per barrel, the statement said.
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