Kremlin refuses to accept EU-agreed oil price ceiling

The Russian authorities are analyzing the price ceiling for oil supplies from Russia, agreed the day before by the countries of the European Union (EU), but do not plan to accept the limit. This was announced by the press secretary of the President of Russia Dmitry Peskov, noting that the Kremlin was ready to establish “such a ceiling.”

“Now we are analyzing. Some preparation was carried out for such a ceiling. We will not accept this ceiling, and how the work will be organized, after the analysis, which will be quickly carried out, we will inform, ”the spokesman told reporters.

Yesterday, December 2, the European Council approved the introduction of a price ceiling for Russian oil at $60 per barrel with a review mechanism. This restriction is considered by the EU countries as a tool to weaken the economic potential of Russia in order to make it difficult to finance military operations in Ukraine.

The price limit was criticized by both Russian and Ukrainian parties. RF officials regarded the price ceiling as a restriction that violates the principles of the free market and warned of the impossibility of supplying an energy resource at a lower cost. Andriy Yermak, head of the office of the President of Ukraine, said that it cost half as much to set the ceiling at $30 per barrel in order to “destroy the enemy’s economy faster.”

Read more about the decision of the EU countries in the publication “Kommersant FM” “Russian oil has picked up the limit”.

Andrey Sapozhnikov