Peskov announced the measures taken against the Western embargo on imports of petroleum products

The Kremlin has a negative attitude towards the new Western embargo on imports of petroleum products, which will lead to further unbalancing of the markets, said presidential spokesman Dmitry Peskov.

“Naturally, this will lead to further imbalance in the international energy markets. But we, of course, are taking measures to hedge our interests from the risks that arise in this regard,” the Kremlin spokesman said.

In 2022, after the strengthening of anti-Russian sanctions, the main buyers of oil and oil products from Russia – the EU, the USA and the UK – imposed an embargo on their supplies, and then decided to limit fuel prices. From December 5, 2022, the price ceiling for offshore oil supplies from the Russian Federation, introduced by unfriendly countries, is in effect, and on February 5, 2023, the price ceiling for oil products will also come into force.

In addition to this, the parties Deal introduce two price limits – for petroleum products that are sold at a premium to Brent (diesel), and those that are sold at a discount (fuel oil). Restriction levels have not yet been called. Bloomberg sources reported on January 26, 2023 that the EU is considering limits of $100/bbl. for diesel (about $730/t) and $45/bbl. for fuel oil (about $330/t), but the figures may still change.

Deputy Prime Minister Alexander Novak pointed outthat Russian oil will find its buyers, since this energy resource has always been and will be in demand on world markets. Despite the fact that logistics chains will now change, Russia does not see “any tragedy” in this, Novak said.