How an Oil Price Ceiling Countermeasure Can Work
[ad_1]
Ceiling Conditions
The EU countries have agreed on a price ceiling for Russian oil, the corresponding document was published on December 4 in the official journal of the EU. It was decided to set the limit at $60/bbl. with subsequent adjustment every two months starting from January 2023. The indicator will be changed so that it is at least 5% lower than the current Urals export price. The mechanism applies exclusively to oil supplies by sea, the restriction does not affect transportation through pipelines. Hungary, Bulgaria, Slovakia, the Czech Republic and Croatia will be able to buy Russian oil at a higher price.
[ad_2]
Source link
