Russian oil continues to rise in price, despite price restrictions from the Group of Seven (G7).
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Bloomberg writes about this.
After the start of the full-scale invasion of Ukraine, the price of Russian oil fell to $30. per barrel and even cheaper, and in the G7 countries set the price limit at 60 dollars. However, in recent months, the price of Russian oil has only grown – it now sells for about $85.35. per barrel.
According to journalists, the price continues to rise due to the fact that Russia, together with Saudi Arabia, is reducing maritime transport, and European insurers and shipowners have not refused to cooperate with the Russian Federation.
To avoid sanctions, European service providers must receive a document indicating that the cargo was purchased for less than $60. per barrel, however, rarely does anyone have a real idea of the cost of the shipment, which is why many companies continue to trade with the Russian Federation.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.