“New legislation passed today, November 3, will prevent countries from using the UK’s services to transport Russian oil unless it is purchased at or below the price set by the G7-Australia Price Cap Coalition,” the UK Treasury said in a statement.
Restrictions are being imposed on companies involved in insurance, brokerage services or transporting oil.
Earlier, the US Treasury proposed to set the maximum price for Russian oil in the region of $60.
Russian President Vladimir Putin has said that Russia will not act to its own detriment if Western countries impose a price ceiling on Russian energy resources.