The European Union wants to lower the price ceiling for Russian oil products to $ 5 below the market price
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The European Union informed the International Energy Agency (IEA) in March that it would consider lowering the ceiling on prices for oil products from Russia by $5 from the average market price of oil, said Assistant Secretary of the Treasury for Economic Policy Ben Harris.
“So if the market price is $50, that means a $2 or $3 discount. These were European commitments. The United States, having agreed on limits on petroleum products, has committed itself to consider in March, together with the rest of the G7 countries, a price limit on petroleum products, but not to commit itself to adjusting the price limit. We are waiting for their assessment from the IEA,” Mr. Harris said at a speech at the American Enterprise Institute, a video of which was published on Twitter.
He added that the Western allies reserved the right to change the price ceiling, for example, if Russia starts to earn too much or world markets become unstable. Whether there will be changes in the price ceiling depends on the IEA report, Mr. Harris emphasized.
On December 5, the price limit for Russian oil at $60 per barrel came into force, and on February 5, for oil products at $100 per barrel. March 6 Estonian Foreign Minister Urmas Reinsalu urged lower the price ceiling for oil from Russia by half, to $30 per barrel.
March 8 Assistant Secretary of the Treasury for Combating Terrorist Financing and Financial Crime Elizabeth Rosenberg informedthat the G7 countries intend to revise the ceiling on oil prices from Russia in March.
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