Due to the new ceiling mechanism, which will now be set by 15% lower than the average market prices, the Russian Federation ark is undergoing 1.5 trillion rubles.
The new European Union penalties, which include a flexible ceiling of prices for Russian oil, can remove Russian budget of every fifth ruble of planned oil and gas income. This is the forecast Freedom Finance Global, the Moscow Times reports.
According to analysts, due to the new ceiling mechanism, which will now be set by 15% less than the average market prices, the Russian Federation ark is not read of 1.5 trillion rubles of raw materials. This is about 18% of the amount planned by the Ministry of Finance to collect this year (8.9 trillion rubles)
“This proposal is capable of carrying out noticeable pressure in the Russian economy, and mainly in the federal budget income. The risks are exacerbated by the fact that the country is highly dependent on the revenues of the raw materials, and most of the oil is exported to states where the ceiling can be applied due to restrictions on logistics notes, logistics,” freedom of freedom, freedom -freedom. Vladimir Chernov.
The “ceiling” of oil introduced at the end of 2022 is at $ 60 per barrel: at the above prices, oil from Russia is prohibited from transporting west tanks and is ensured with the help of western financial institutions. The new ceiling, by deciding the European Commission, will be $ 47.6 per barrel, and the next review will take place in three months.
In June, various Urals of Russia were sold on average overseas $ 59.8 per barrel. But due to penalties in the EU, the cost of Russia’s oil may fall into some cases up to $ 45 “considering logistics and political discounts.”
“This will lead to a further decrease in foreign exchange rates and increase fiscal pressure in the Russian economy,” Chernov said.
Budget oil and gas revenues are rapidly falling: according to the results of the first half of the year, they were 14% less than last year, and in May and June the collapse in annual terms exceeded 30%. As a result: for six months in Treasury a “hole” formed 3.8 trillion rubles – 6 times more than the same period of 2024.
According to Institute of Energy and Finance experts, the reduction in the ceiling of oil prices “can be the most serious problem” for Russian oil exports from the introduction of the European embargo by the end of 2022.
In recent months, the cost of the Urals lasted under the ceiling, and therefore, Greek shipping companies began to actively carry it again. They replaced the “shadow” tankers that fell under the penalties and were driven from the oil trade. According to the IEF, they are 426, and they are more than half (55%) from the entire “Shadow Fleet” dedwitter.
It was noted that due to the reduced ceiling, these carriers rejected Russia’s oil again, but it may not be possible to replace them with a sufficient number of “Shadow Fleet” ships. As a result, the “tangible reduction of sea oil export from the Russian Federation, as well as the sharp rising price of services list of western countries” is likely.
Remember that the European Union approved 18 packages of sanctions against Russia. One of its key points is a significant decrease in the ceiling of Russian oil prices. The package also includes sanctions against 105 ships of “Shadow Fleet” by the Russian Federation
London joins the new ceiling of Russian Federation oil prices
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Source: korrespondent
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.