The US Treasury has allowed the EU countries without access to the sea to conduct operations with Russian oil

The US Treasury has authorized financial transactions related to the supply of Russian oil to Bulgaria, Croatia and other EU countries that have no access to the sea. About it said in the published general license of the US Office.

“All Transactions, <...> associated with imports of crude oil to Bulgaria, Croatia and landlocked EU countries, as specified in the decision of the EU Council <...> dated June 3, 2022, are allowed,” the document says.

According to the license, the unloading of Russian oil from ships is also allowed “in case of emergencies” related to the health of the crew or a threat to the environment.

The US Treasury emphasized that the introduction of a price ceiling for Russian oil does not cancel the already imposed ban on energy supplies to the United States. The document notes that the ceiling price for Russian oil “will be set after technical exercises conducted by the coalition to limit prices.” At the same time, in case of “forced or unintentional” purchases of Russian oil above the “ceiling”, it will be necessary to obtain a special license from the United States.

After the start of Russia’s special operation in Ukraine, the G7 countries agreed on the introduction of a ceiling price for Russian oil. The EU countries approved the restriction as part of the eighth package of sanctions. The price ceiling for crude oil will come into effect on December 5, 2022, and for petroleum products on February 5, 2023. However, the price ceiling has not yet been agreed.

November 22 The Wall Street Journal wrotethat the EU could agree on a price cap today, 23 November. It is expected that the price ceiling for Russian oil will be set at $60-70 per barrel. Besides, informed Bloomberg, the EU has proposed a 45-day transition period after the restriction comes into effect.

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