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EU Strikes Russia Sanctions Compromise, Adding Oil Price Cap

  • The sanctions package would include a price cap on oil sales
  • The EU reached a compromise that would protect shipping sector
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European Union countries reached a compromise on a new package of Russia sanctions that includes support for a price cap on oil sales to third countries, with a formal agreement expected on Wednesday, according to people familiar with the matter. 

EU ambassadors on Tuesday night discussed ways to mitigate the impact the new package would have on countries with large shipping industries, said the people, who asked not to be identified because the talks were private.