The Epoch Times: Russian Oil Price Ceiling Benefits China

Thanks to the ceiling on Russian oil prices introduced the day before, China will be able to buy more fuel from Russia at a deep discount, while the Russian side will continue to receive high profits from the sale of oil. This is written by the American edition The Epoch Times.

The author of the material, Tressis hedge fund specialist Daniel Lacalle, believes that China will be able to provide long-term supplies at an attractive price and will sell oil products around the world with a higher margin.

According to Mr. Lacalle, the introduction of a price ceiling for oil from Russia is “not only a subsidy to China”, but also a big mistake, since it does not cause any damage to exports from the Russian Federation.

“If the G7 really wanted to hurt Russia’s finances and exports, the way to do it is to encourage investment in alternative and more competitive sources. However, the opposite is happening. The governments of the G7 countries continue to create barriers to investment in energy,” says The Epoch Times.

The price ceiling for Russian oil at $60 per barrel (introduced by the G7 countries, the EU and Australia), as well as the embargo on fuel supplied by sea from Russia to the EU, began to operate on December 5. In the Kremlin declaredthat are preparing responses. Russian President Vladimir Putin said that Russia would not suffer losses from the imposed restrictions under any circumstances. At the same time, the price of Russian Urals oil has already fallen below the ceiling.

Read more about this in the material “Kommersant FM” “Oil is not afraid of sanctions”.

Daria Erozbek