The US announced that the price ceiling for Russian oil will start at $60 per barrel

The price ceiling for Russian oil will start at $60 per barrel and may be revised in the future. This was announced by Deputy Treasury Secretary Wally Adeyemo at the Reuters NEXT online conference.

“We start at $60 [за баррель] and we have the ability to move the price ceiling to limit Russia’s revenues over time,” said Adeyemo (quote according to RIA Novosti).

He noted that the EU has not yet made a final decision on the maximum price for Russian oil. In this regard, the deputy head of the US Treasury did not evaluate the discussed initiative. Adeyemo noted that he expects progress on this issue. According to him, Washington hopes that Poland and the rest of the EU countries will be able to agree on a price ceiling by December 5, and “the rest of the coalition countries will join them.”

Earlier today, The Wall Street Journal, citing sources informedthat the European Commission (EC) proposed to the EU countries to introduce a cap on oil prices of $60 per barrel. Later, Reuters also said that the EU had practically agreed on a price limit of $60 per barrel, and now the countries were waiting for Warsaw’s approval.

The fact that the EU countries are discussing limiting the price of Russian oil at $60 per barrel, November 30 informed Bloomberg. Last week, EU countries failed to agree on a price ceiling due to disagreements between the countries. Bloomberg agency wrotethat the EC proposed a ceiling of $65 per barrel, but this restriction seemed too lenient to Poland. The Politico newspaper claimed that Warsaw was pushing for a cap price of $30 per barrel. At the same time, Greece and Malta opposed the introduction of a ceiling below $70 per barrel.

It is in the interest of the EU to decide on a price limit by next Monday, otherwise the tougher measures agreed in May, which imply a ban on sea shipments of Russian crude oil from December 5, 2022 and oil products from February 5, 2023, will come into force.

Earlier, the Russian authorities have repeatedly said that they will not supply energy resources to countries that join the price ceiling for oil and gas from the Russian Federation. “We will not act to our detriment,” declared in October, Russian President Vladimir Putin.

In the Kremlin called an initiative with a price ceiling “incomprehensible” and “inexplicable”. According to the press secretary of the President of the Russian Federation Dmitry Peskov, the EU countries want to set a ceiling price for Russian oil for show.

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