Hello Stefan, I wonder if you had received any official communication

from either Canada, the United Kingdom, or Japan that they intend to

join the dynamic price cap that was approved last week. Have you

received any official communication from any of your G7 partners, or is this still an

EU only initiative? Thank you. Thank you very much. I

am looking at my colleagues here, yes. It

is very good to have very smart colleagues, by the way. I

mean, hi. Thanks for your question. So first of all repeat

what I said last week that as regards the new price

cap mechanism, our intention is to discuss it with the G7 price cap coalition. We

have already been in touch with them, of course, while we were preparing this with

a view to aligning as best as possible in the future. Our aim should be

our aim is that other G7 members will eventually adopt such

levels when a new adjustment is made by the Commission. And you may be aware

that the UK announced on Friday that it was joining the new lower cap, so

that's all we can say for the moment. we're talking to our colleagues about it

and that's what we will continue to do. Thank you. You have a follow up

Yes. Angela Scooons from TVP World

just following up from Jorge's question, you're saying, you said that you're in contact with

the G7 members. Are you in contact with Washington and what are they saying to

you about the oil price cap? Thanks. Thanks for your question, and

we are in contact with G7 members. Thank you. Yeah. Italy

on sanction, a bit different angle, US

Treasury Secretary, he called the European allies to join

secondary tariff in case, US adopt them

on those countries who are still buying, Russian oil, do

you consider this possibility to join secondary tariff in case they imposed

this 100% of United States tariff on third countries. Thank you. Thanks

for your question. The first point to keep in mind is that EU sanctions don't

apply extraterritorially, but the more fundamental answer to your question is that this is something

the US has talked about and not actually implemented yet, so we're we're not going

to go into that level of detail now. Thank you. Is

it for all of you, go ahead. Thanks

very much, Rosie Burchard for DW. So on those countries that are buying Russian oil

the new sanctions include a ban on import of refined petroleum products. I

think this will particularly impact EU trade with India and Turkey. Can you explain a

bit more how this will actually be implemented, given those countries also import and refine

oil from elsewhere? How will the EU be able to tell, for example, at a

port if the oil being imported is refined? was originally Russian. Thank

you. OK, so This is how I understand it, and if

I get something wrong, I will consult with my glorious technical experts efforts and come

back to you. But basically, the idea is that after a transitional period of 6

months, it will be prohibited for EU operators to purchase, import or transfer

into the EU petroleum products obtained in a third country from Russian crude oil, as

well as providing related technical or financial assistance. So what we're going to do now

is the Commission is going to issue guidance on the implementation of this prohibition. In

particular, as regards the evidence which should be provided by operators engaged in the import

of refined petroleum products, and our intention is to publish this guidance before the end

of the transitional period. Thank you have a follow up. Thank

you very much. Yeah, and I just wondered if you could also clarify or give

us some insight into the idea of if you have a ban on all imports

of refined Russian petroleum, why would you also single out and sanction one Indian

refinery if it's also being refined in other refineries? If there's a ban anyway, what's

the interest in that? Thank you. I have to come back to you on that

That's the level of detail I don't have in front of me right now. Thank

you. I see hands are raised in Interaxio. I assume they

are for Olof, so if, if it's not the case, unraise your hand

Too, is it for all of on sanctions? Yes

and I, many thanks for the fraud. It's yes, it's on, the, oil

price cap on, on Russia. And I wonder if you can explain us how it

will go, it will go to work in practise, because I remember

that the first price cap, which was decided at G7 level. Wasn't that successful

and so how can this price cap which is decided, which is imposed

just by the European Union and the UK if I'm not mistaken, can work in

practise. Because since I'm not mistaken, if I'm not mistaken, all transactions

are cleared in are paid in dollars, so they're cleared through US banks

and if the US don't participate in enforcing this cap, I, I really don't

understand how in practise can it work. Can you explain in practise, how is, is

it supposed to work? Many thanks. Thanks for your question, Thomas. So

look, I've said that we're going to consult with our G7 partners to

assess the ways that we can make this work best in practise. Clearly

the optimal solution would be that all G7 members were aligned on this. Currently that

is not the case, and that is something we are trying to work towards in

these discussions. I don't really want to say more from this podium right now. I

suggest that if you have any more technical questions about what might or might

not work in the future, you send those to us bilaterally, because otherwise we can

go on about this stuff ad infinitum and right now we've come forward with our

suggestion, we're discussing it with our members. I've explained in some detail how we expect

that to work, and if you need to know more, please contact me after today's

midday. Thank you. I also see that David raised his hand. He's done this. Yeah

can you hear me? Yes, we hear you and see you even from your garden

I assume. OK, yeah, it's a clarification. I know you've replied by email and

I know you've given indications, but it's just very, very clearly. Can

you refine Russian crude and make petroleum products in a non-EU country

third country India perhaps. And use that just for domestic use

And then that same very same refinery uses So

it uses non-Russian crude and makes petroleum products and then exports

that to the EU. Is that possible? Thanks

for your question. I, we couldn't really make out what you were saying. You've written

a shortened version of it here, I think. Again, I'm going to have to ask

you to send this level of detailed technical questions to me afterwards. I'll be happy

to respond in as much detail as we can, but we're not going to

go into that level of detail from the midday today. No, that's clear. Do we

have any other questions for Olof on his broad portfolio? Yes, I see many hands