The EU has provided a transitional period for the oil price ceiling and sanctions for breaking the rule
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The European Commission has published clarifications on the functioning of the price ceiling for Russian oil. The sanctions will not apply to oil that was loaded on ships before December 5 and unloaded before January 19, 2023. For violation of the vessels from third countries, a three-month ban on the provision of services is provided.
“If a vessel flying the flag of a third country deliberately transports Russian oil above the price limit, EU operators will be prohibited from insuring, financing and maintaining this vessel for the transport of Russian oil or oil products for 90 days,” the statement reads. message EC. It is noted that if the price ceiling is violated by vessels flying the flags of the EU countries, then sanctions of national legislation will apply to them.
EU, G7 and Australia earlier this week agreed introduce a price ceiling of $60 per barrel. Companies will be prohibited from providing services, including insurance, for the transportation of Russian oil above this indicator. The measure is expected to come into effect on December 5. The revision of the price ceiling will be discussed in mid-January. Russia declaredthat will not supply oil to countries that will impose a price cap.
About forecasts for the export of Russian oil in 2022 – in the material “Kommersant” “Fertilizers do not leave”.
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