Russian crude exports have topped the $60-per-barrel price cap for the first time since the measure was imposed to cut Moscow’s revenues, according to International Energy Agency (IEA) data.
A weighted average of crude loaded from Russia’s ports went above the price cap on 5 April as oil prices spiked globally, according to the IEA’s latest monthly oil report.
European Union companies are banned from providing maritime services for deliveries to countries outside of the 27-nation bloc if the crude sales prices go above the cap.
