Switzerland joined the price ceiling for petroleum products from the Russian Federation
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Switzerland has joined the restrictions on export prices for oil products from Russia, which were previously introduced by the G7 countries and the EU, according to site governments of the country.
“Today, the Federal Council brought its sanctions regime on crude oil and petroleum products from Russia into line with the latest package of sanctions adopted by the European Union (EU),” the statement said.
The restrictions take effect today. Switzerland joined the price ceiling for Russian crude oil in mid-December.
Earlier, the G7 countries (G7, includes the UK, Germany, Italy, Canada, USA, France, Japan) and the European Union (EU) set a limit on export prices for expensive oil products from Russia (for example, diesel) at $100/bbl, and for cheaper ones (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.
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.
How wrote Earlier, Vedomosti, Deputy Prime Minister of the Russian Federation Alexander Novak, in an article for the Energy Policy magazine, said that Russia plans to supply more than 80% of export volumes of oil and 75% of oil products to friendly countries in 2023.
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