Limiting prices for oil products of Russian origin is not far away, the US Treasury Department said.
The countries of the G7 (G7) and Australia have set a price ceiling for oil exported from Russia by sea at $60 per barrel. This was announced by the US Treasury on the evening of Friday, December 2.
“The G7, including Australia, has joined the EU and accepts a ceiling of $60 per barrel for oil delivered by sea from Russia,” the statement said.
At the same time, it is emphasized that the marginal price level is set high enough to maintain a clear economic incentive for Russia to continue selling oil on world markets, which means “it will keep the stability of world energy supplies. .”
“The price of $60 is set at a historic level for Russia, which is higher than the cost of production and comparable to the prices at which Russia sold oil before the war with Ukraine,” the document said.
In a statement, the G7 countries reminded that “next week, the G7, EU and Australia Price Cap Coalition will impose a ban on a wide range of services, including shipping insurance and trade finance, which related to the maritime transport of crude oil of Russian origin. oil, beyond unless consumers buy oil at $60 or below $60 per barrel.”
At the same time, it was specified that importers who buy Russian oil within the price limit will retain access to various services in the coalition member states necessary for oil trade.
In addition, from February 5, 2023, the ban on such services will be applied to the sea transportation of oil products of Russian origin, except for products sold under the established price ceiling, which will be separately announced before the February 5, 2023.
Earlier, Russian President Vladimir Putin warned of “severe consequences” for restricting oil prices from Russia.
Media: Russian oil falls below proposed price ceiling
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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.