Norwegian price cap on Russian petroleum products

Norway introduced a price cap on Russian petroleum products to reduce Russia's revenues from the sale of petroleum products to third countries and to match the price caps adopted by the EU and the G7 countries. The price cap is USD 45 per barrel for refined petroleum products trading at a discount to crude oil, and USD 100 per barrel for refined petroleum products trading above the price of crude oil. 

Want to know more about this policy ? Learn more