DD Geopolitics: 🇪🇺 The EU may ease restrictions on Russian oil due to the war on Iran, Bloomberg reports...

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🇪🇺 The EU may ease restrictions on Russian oil due to the war on Iran, Bloomberg reports citing sources.

According to the agency, discussions around the 21st sanctions package include dropping the automatic reduction of the price cap on Russian oil, or fixing it at $60 per barrel. The EU had previously planned to revise the mechanism in July.

The new package, which could be presented as early as early June, would expand sanctions against banks, oil traders, refineries, and crypto services that the EU believes Russia is using to circumvent restrictions.

Also under discussion is adding around 20 more vessels from Russia's "shadow fleet" to sanctions lists, along with tightening export controls on companies from China, India, Turkey, and Central Asian countries.

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