Bloomberg: US insists on keeping cap on Russian oil at $60 per barrel
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The administration of US President Joe Biden intends to oppose lowering the marginal price for Russian oil exports, despite the desire of European countries, in particular Poland and Estonia, to set limits below $60 per barrel. This is reported Bloomberg.
According to the agency, before reassessing the maximum cost of oil from Russia, Washington intends to wait for the European Union (EU) embargo on Russian oil products, which will come into force on February 5. Since a unanimous decision by the G7 and the EU is required to change the price ceiling, the US position increases the likelihood that the price of Russian oil will remain at $60 per barrel, Bloomberg notes.
A number of EU member states, including Poland and Estonia, continue to push for a lower price cap on Russian oil exports to cut Moscow’s revenues. According to the agency, the discussion of the revision of prices in the EU will begin next week.
On February 5, a mechanism for restricting the import of Russian oil products, including diesel fuel, fuel oil, gasoline, kerosene and other goods, will start working. From the same day, a restriction on the cost of petroleum products is introduced. Embargo and price ceiling for Russian oil at $60 entered effective December 5th. They were adopted by the EU together with the G7 countries and Australia. In response, President Vladimir Putin banned supply of oil and oil products under the price ceiling without his personal permission.
Read more about the situation on the oil market – in the material “Kommersant” “Oil is in temporary surplus”.
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