EU Agrees on Price Cap for Russian Oil 10/05 06:05

   European Union countries agreed on Wednesday to impose new sanctions on 
Russia after it illegally annexed four regions in Ukraine, according to an EU 
official, including an expected price cap on Russian oil.

   BRUSSELS (AP) -- European Union countries agreed on Wednesday to impose new 
sanctions on Russia after it illegally annexed four regions in Ukraine, 
according to an EU official, including an expected price cap on Russian oil.

   EU member-state diplomats struck the deal in Brussels, said the official 
representing the Czech Republic, which holds the 27-nation bloc's rotating 
presidency.

   No details of the sanctions were immediately released. They will be 
published as soon as Thursday.

   They are expected to include a price cap on Russian oil, curbs on EU exports 
of aircraft components to the country and limits on steel imports from it.

   The moves build on already-unprecedented European sanctions against Russia 
as a result of its war against Ukraine since February.

   EU measures to date include restrictions on energy from Russia, bans on 
financial transactions with Russian entities including the central bank and 
asset freezes against more than 1,000 people and 100 organizations.

   The EU is already planning to ban most Russian oil products, which will 
force Russia to lower prices to find new customers. OPEC oil-producing 
countries meet Wednesday to discuss cutting output to boost oil prices, which 
would help Russia.