The Kremlin hedges the risks due to the embargo on petroleum products
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The Kremlin has a negative attitude towards the decision of Western countries to impose an embargo on the supply of petroleum products from Russia, said presidential spokesman Dmitry Peskov. According to him, in the future, these restrictions will lead to an imbalance in the markets.
“Negatively, of course, this will lead to further unbalancing of international energy markets. Naturally, we take measures to hedge (insure against market price fluctuations.— “b”) our interests from the risks that arise in this regard,” said Mr. Peskov during a press call.
On February 5, the EU embargo on the import of refined petroleum products from Russia will come into force. In addition, marginal prices will be set for exports to third countries of diesel fuel, naphtha (a refined product obtained at the first stage of oil distillation) and fuel oil. According to Bloomberg, the cost of Russian diesel fuel restrict at $100 per barrel, and oil products at $45 per barrel.
Also, from December 5, 2022, there are price restrictions for Russian oil transported by sea. The ceiling is set at $60 per barrel.
About what will be the consequences of limiting fuel prices – in the material “Kommersant FM” “Oil products have their own ceiling”.
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