Novak confident in the stable operation of the oil industry despite the EU embargo
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The Russian oil industry will continue to operate stably despite the EU embargo on the supply of petroleum products from the Russian Federation, Deputy Prime Minister Alexander Novak told reporters.
“We will see how the situation develops. I am sure that our industry will work regularly, stably,” leads his words TASS.
Earlier, the G7 countries (G7, includes the UK, Germany, Italy, Canada, USA, France, Japan) and the EU set a limit on export prices for expensive oil products from Russia (for example, diesel) at $100/bbl, and at more cheap (fuel oil) – at the level of $45/bbl, the restrictions came into force simultaneously with the ban on offshore deliveries of oil products from Russia to the EU on February 5.
How noted According to analysts interviewed by Vedomosti, an embargo on the export of petroleum products to the EU could exert significant pressure, because it will be difficult for Russian refiners to redirect significant flows of petroleum products at once, including due to a lack of fleet.
On December 5, simultaneously with the EU embargo on offshore oil supplies from Russia, a price ceiling for it began to operate. It was set at $60/bbl. Already this year, this level may be revised – the “new ceiling” in this case will be at least 5% lower than the export price of Russian oil over the past period, the official journal of the EU reported on December 4.
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