Zelensky’s adviser urged to set a ceiling on Russian oil at $10-20 per barrel
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Oleg Ustenko, economic adviser to Ukrainian President Volodymyr Zelensky, believes that the international community should introduce a cap on Russian oil prices at $10-20 per barrel. According to him, the level of the price ceiling for Russia should be “minimum” – solely to cover the cost of extracting the resource. Now a barrel of Russian brand oil Urals traded at $75 per barrel.
“In our opinion, in Kyiv, the level of the price ceiling should be minimal… which means it should be at the level of the marginal cost of oil production… I would say that this is a level from $10 to $20 per barrel,” Mr. Ustenko said in an interview. Newsweek. He stressed that the Ukrainian side expects the introduction of such a restrictive mechanism in December, when European sanctions against sea transportation of Russian oil should come into force.
October 12 Russian President Vladimir Putin declaredthat the Russian Federation does not intend to supply energy resources to countries that limit their prices. The G7 states (Great Britain, Germany, Italy, Canada, USA, France, Japan) previously announced plans to introduce a cap on oil prices from Russia from December 5 this year.
About the price ceiling for Russian energy resources – in the material “Kommersant FM” “Oil Feeling the Ceiling”.
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