03/02/2023 (Agence Europe) – The ambassadors of the Member States to the European Union (Coreper) managed to agree on capping the prices of refined petroleum products (diesel, petrol, etc.) from Russia on Friday 3 February, two days before the EU embargo on these products comes into force. Two new caps will be introduced by the EU, the G7 countries and Australia: - the first will be set at $100/barrel for Russian refined products traded at a premium to crude oil prices; - the second at $45/barrel for those traded at a lower price. Once the legislative procedures have been finalised, the measure will come into force on Sunday 5 February. Poland and the Baltic States have also reportedly tried to lower the cap on Russian crude oil exported by ship, which has been in force since 5 December (see EUROPE 13077/20). (DG)