Expert slammed EU calls to lower Russian oil price cap

https://ria.ru/20230318/neft-1858753615.html

Expert slammed EU calls to lower Russian oil price cap

Expert slammed EU calls to lower Russian oil price cap

Expert slammed EU calls to lower Russian oil price cap

There is no economic interest in adjusting the ceiling price of Russian oil, which is now $60 a barrel, hence the calls from a number of countries… RIA Novosti, 03/18/2023

2023-03-18T08:23

2023-03-18T08:23

2023-03-18T08:23

economy

Russia

Poland

European Union

g7

Lithuania

Oil prices

oil

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MOSCOW, March 18 – RIA Novosti. There is no economic interest in adjusting Russia’s oil price cap, which now stands at $60 a barrel, so calls from a number of EU countries to lower it are a blow. pub, Maxim Kanishchev, director of the Anselm Research Center, told RIA. Novosti. Earlier in March, Deputy Treasury Secretary Elizabeth Rosenberg told RIA Novosti that the G7 countries intended to revise the Russian oil price cap in March. Later, foreign media reported that Poland and Lithuania were offering to lower it from $60 to $51.45 a barrel. At the same time, the G7 countries, in particular the United States, intend to maintain the same level of ceiling. According to the expert, the disagreement on the ceiling price of Russian oil demonstrates the split of the European Union and its incompetence in economic matters. “It reminds me of a quartet from Krylov’s fable, but if in the fable the animals at least wanted to play together, then in Europe they sit side by side, swear and imitate the game. product: according to the rules for fixing the ceiling, the level of prices must not be higher than 95% of those of the market. And the cap is now actually higher than the cost of selling oil. Therefore, there is simply no economic sense in correcting something, holding meetings, writing documents – it is a waste of time and resources,” Kanishchev said. Western oil sanctions against Russia came into force on December 5, 2022: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced a limit of price for it during shipping at the level of $ 60 per barrel. – it is forbidden to transport and insure more expensive oil. Russia, in response, banned from February 1 to supply oil to foreigners, if the contracts directly or indirectly provide for the use of the marginal pricing mechanism.

https://ria.ru/20230315/neft-1857906457.html

Russia

Poland

Lithuania

2023

News

ru-RU

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economy, russia, poland, european union, g7, lithuania, oil price, petroleum

Expert slammed EU calls to lower Russian oil price cap