The cap is to be reviewed every two months, with the option to modify it according to price changes.
With two consecutive quarters of falling GDP, Russian economy continues to contract, but it has so far survived Western sanctions over its Ukraine offensive better than many economists expected.
The US has revoked Russia’s market economy status amid increasingly tense trade relations between Moscow and the West.
In total, 84 individuals and 11 entities in Myanmar now fall under the EU sanctions, which include visa bans and the freezing of assets in the European Union.
Long queues snake around many filling stations in capital Havana as the Caribbean country reels under its second fuel crisis in seven months.
State Department has denied "false" allegations from Iranian media saying $7 billion of Iran's blocked resources will be released.
Foreign ministers of the Group of Seven have condemned Moscow's partial mobilisation of reservists, nuclear rhetoric and plans to hold referenda in the Russia-controlled regions.
The EU leadership seeks to starve Russia of the funds it needs to finance its war with Ukraine, but that comes at a high cost.
Those sanctioned would not be able to visit China, Hong Kong and Macau, a Taiwan Affairs Office spokesperson said.
Indian ship earlier this year picked up oil in mid-seas from Russian tanker, got it refined in western Gujarat state and then took the output to New York, says a top Indian central banker, adding "that's the way war works."
Russia has cut gas supplies to several European countries. While some countries in central and Eastern Europe face shortages, the poorest struggle with spiralling energy prices.
While the EU Commission proposes a mechanism to reduce gas consumption and encourage stockpiling for the winter, member states are going it alone with gas deals.
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