Price caps on Russian fuels could range from $45 to $100 with EU diplomats set to begin negotiations, report says

• The European Union is considering a price cap of $100 per barrel on Russian diesel, according to Bloomberg. 
• Meanwhile, a price cap of $45 a barrel is being weighed for Russian fuel oil. 
• The price caps would coincide the EU's upcoming ban on refined products from Russia that will take effect on February 5.

The European Union is weighing various price caps on refined Russian oil products that will coincide with a new embargo due to take effect in a week and a half. 

Starting on February 5, the EU will stop importing Russian fuels. At the same time, the EU plans to bar other countries from accessing insurance and shipping services unless they abide by the price cap.