IMF: Russian exports will not be affected by the oil price ceiling
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Analysts at the International Monetary Fund (IMF) believe that the ceiling on Russian oil prices set by the G7 countries (Great Britain, Germany, Italy, Canada, France, Japan and the United States) will not negatively affect crude oil exports. This is reported “RIA News” with reference to the widespread IMF forecast.
“It is expected that with the current oil price cap set by the G7, Russian crude oil exports will not be significantly affected, as Russian trade is redirected from countries that have adopted sanctions to countries that have not imposed them,” follows from the forecast of the fund.
At the time of news release, IMF World Economic Outlook for January was unavailable.
On December 5, the redistribution of prices for Russian oil, which is delivered by sea, began to work. It is set at $60 per barrel. On February 5, a price ceiling will be set for the export of Russian oil products to third countries. Now in the West are discussingwhat price ceiling to impose on them.
According to data The Ministry of Finance of the Russian Federation on January 5, the average price of Urals oil in December 2022 was $50.47 per barrel, which is 1.44 times lower than in December 2021. The average price for oil of this brand in January-December 2022 was $76.09 per barrel, for the same period in 2021 – $69.0 per barrel.
Most of the barrels of oil subject to the embargo arrives to China and India. In India ready increase the purchase of oil from Russia at an affordable price.
Read more in the publication “b FM” “Oil goes into the shadows”.
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