The expert called the easing of restrictions on the export of Russian oil a tactical move

Western companies are trying to set a fixed price for Russian fuel

The UK and the EU have eased restrictions on Russia’s oil trade. “Winter is coming,” as the heroes of the “Game of Thrones” said, and no one in the world wants to stock up on firewood for a period of bitter frosts. Western partners were forced to back down, amid fears of a sharp rise in energy prices. Which, like a snowball, will give an increase in inflation. Now the Old World agrees to insure our oil tankers.

Historically, Britain has always been the “mistress of the sea” and maritime trade. Most of the ship insurers are based in London – they cover about 90% of the world’s tonnage of ships. Well, and so, according to the latest media reports, the UK does not prohibit insurance of tankers with Russian oil if these vessels go through European ports in transit and are unloaded in third countries. The EU countries also gave the same “reverse move”.

At the beginning of the summer, Brussels issued a formidable order: to completely ban the provision of services to ships with Russian oil. And now it turns out: let them export for themselves, go to the seas and oceans. It is believed that the EU at one point took care of global energy security.

Why such a 180 degree turn? We asked Igor Yushkov, a leading analyst at the National Energy Security Fund, an expert at the Financial University under the Government of the Russian Federation, about this.

“Since the beginning of the special military operation in Ukraine, British companies have declared Russian waters and ports almost a war zone,” he says. – It raised the cost of insurance quite a lot. And on this they made very good money.

Since mid-May, our country has concluded an agreement with Asian consumers of energy resources on other insurance schemes. This was carried out by Russian companies under state guarantees. For Asian countries, this option turned out to be quite acceptable.

Western insurers realized that they punished themselves, they lost most of the services market. And now they want to return everything back, remove the restrictions. Say, we are for ensuring that there is no shortage of energy resources in the world, and that prices for them do not creep up. Let Russia export oil to third countries, we will even help it in this…

– However, they put forward some incomprehensible conditions. Which?

– This is an interesting situation. Western companies occupy a large part of the maritime insurance market. Initially, they put the question point-blank: do not buy anything from Russia, its economy will collapse and it will change its foreign policy.

Nothing, however, came of it. Yes, in March and April, the physical volumes of energy exports decreased, but due to the fact that prices jumped up, oil revenues did not decrease

Now Brussels and London are changing their strategy. Return to the classic version of marine insurance, that is, by Western companies. But on the condition that the oil in them is not higher than the price they want to set for Russia.

– The so-called ceiling, which has been discussed for several weeks?

– Exactly. But for their initiative to work, it needs to be supported by the majority of Asian countries that buy our oil. Russia’s position is clear. Those who want to buy our oil at fixed prices may be left without energy resources at all. Now they buy with discounts, cheap. And who wants to buy for big money? It is unlikely that India or China will accept the offer of Western companies.

Thus, Western sanctions against Russia fail one after another. Nevertheless, Washington and London do not give up plans to ban insurance of Russian tankers. But for this step, they need to set a ceiling price for our oil. Almost like according to Ilf and Petrov: the oil is yours, and the prices are ours…