Japanese authorities are not confident in the effectiveness of the price ceiling for Russian oil
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The Japanese government believes that the introduction of a ceiling on prices for Russian oil will reduce Russia’s income from oil exports, said Hirokazu Matsuno, Secretary General of the Cabinet of Ministers. At the same time, he clarified that he was not sure about the effectiveness of price restrictions.
According to Mr. Matsuno, the introduction of restrictions is also designed to ensure the stability of the oil market. “I can’t speak with confidence about the effectiveness of such a measure. However, I believe that it will reduce the price of Russian oil, even when it comes to those countries that have not joined the current steps, and this will limit Russia’s income from energy exports, ”he said at a press conference (quoted by TASS).
Today, December 5, entered into force an embargo on oil supplies from the Russian Federation to the European Union (EU), and from that day on, a price ceiling was introduced for it by the EU countries, the G7 and Australia. The marginal price is set at $60 per barrel. Due to reduced supplies to the EU, Russia has redirected exports to other markets, with China and India being the biggest buyers. Germany hopesthat India will support the price ceiling for Russian oil
Read about the restrictions in the publication “Kommersant” “OPEC+ is swinging for a long time”.
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