Following the UK and the European Union, Canada reduced the price threshold for Russia’s oil as part of Kremlin’s revenue reduction efforts.
Canada authorities reduced the maximum price for Russian oil from $ 60 to $ 47.6 per barrel. It has been reported on the official Canadian government website.
“In accordance with the recently stated steps of the European Union and Great Britain, Canada reduced the maximum price for Russian raw oil from $ 60 to $ 47.6 per barrel,” the report said.
New restrictions were initiated on September 3. Canada expects this way “to limit Russia’s ability to earn from energy exports.”
On July 18, the European Union approved the 18th package of sanctions against the Russian Federation, which, among other things, provided a reduction in Russian oil maximum price from 60 to 47.6 dollars per barrel. On the same day, the UK revealed about its attachment to these restrictions. Importing Russian oil -based oil products also fell under the ban. Later, Great Britain and Switzerland revealed similar steps.
Remember that the Russian oil brand supply with a deadline for arrival in October is offered to Chinese customers at a reduced price.
Oil has survived the longest rejection since 2021
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.