EU agrees on price cap on Russian oil after annexation plans become official
European Commission President Ursula von der Leyen speaks during a commission on Russia's escalation of its war of aggression against Ukraine, at the European Parliament, Wednesday, October 5, 2022, in Strasbourg, eastern France
EUROPEAN UNION countries agreed to impose a price cap on Russian oil and other sanctions today after Moscow officially annexed four regions in Ukraine.
The sanctions include curbs on EU exports of aircraft components to Russia and limits on steel imports from the country.
It builds on existing European sanctions imposed in retaliation for the Russian invasion of Ukraine.
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