US resists Ukrainian pleas to lower Russian oil price ceiling to $30 per barrel – Kommersant
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The U.S. administration is resisting calls from the Ukrainian government to lower the price ceiling for Russian oil from $60 to $30 a barrel, reports The Washington Post (WP) citing sources. They said Washington fears that this will prompt Moscow to cut oil production, causing prices to spike and “stir up the global economy” just before the 2024 US presidential election. In addition, any tightening of measures against the Russian Federation will require the approval of European lawmakers, which “risks undermining support for Ukraine’s military efforts,” WP specifies.
In December 2022, the European Union and the G7 countries introduced a price limit for oil from Russia – it cannot be sold above $60 per barrel. From February 5, 2023, there is also a ceiling of $100 and $45 per barrel (for products that are traded at a premium and a discount to oil, respectively). In February, Bloomberg wrotethat Russia has been selling oil above the price ceiling for at least four weeks. In June, according to the International Energy Agency, Russia’s revenues from the export of oil and petroleum products fell nearly double year on year.
Details – in the material “Kommersant” “Oil wins back the deficit”.
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