Wednesday, September 27, 2023
  • Donate
  • Newsletter
Russian Free Press
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after
No Result
View All Result
Russian Free Press

WSJ: The European Commission asked to set a price ceiling for Russian oil at $60

December 1, 2022
in Daily News
Share on FacebookShare on Twitter

The European Commission has asked representatives of EU member states to approve a price ceiling for Russian oil at $60 per barrel. This is reported by The Wall Street Journal, citing diplomatic sources. The European Commission considers this level acceptable in order to reduce Moscow's income from oil supplies, and a broad coalition of countries has formed around this level, the newspaper notes.

The EU executive believes that all 27 EU members could agree on a ceiling at this level as early as Thursday, but sources admit that the final level could still be revised during negotiations on 1 December. The publication also recalls that the position of the EU will need to be coordinated with other members of the Western coalition who are promoting the idea of ​​introducing a ceiling on oil prices - we are talking about the G7 countries, as well as Australia.

In the absence of agreement between the EU countries, the previous version of the sanctions will come into force - a full-fledged embargo on Russian oil, as well as on the provision of insurance, brokerage, financial, logistics and other services for Russian oil companies. EU sanctions have previously caused concern in the United States, the US administration was worried that European restrictions on the provision of insurance and financial services could lead to a sharp reduction in the supply of oil on the market.

Previously, the Baltic countries actively opposed the $60 level, which insisted on the lowest possible ceiling level, in particular, Poland insisted on $30 per barrel - the price as close as possible to the profitability of oil production in Russia. However, this position did not find understanding among countries whose economies are heavily dependent on maritime transport - Greece, Cyprus and Malta. These countries urged to stop at the level of $65 in order to continue transporting Russian oil to third countries.

Russian oil prices are not doing very well without sanctions. According to the latest data from the Russian Ministry of Finance, the average monthly price of Urals oil in November fell by 5.9% to $66.47 per barrel, and in annual terms, the fall was 16.6%. At the same time, directly in ports and shipping terminals, according to the Argus agency, on whose data the Ministry of Finance also relies, the price of oil dropped to $52 per barrel, that is, even below the ceiling that the EU countries plan to approve.

Read also

Party like a Russian no more

September 27, 2023

Party like a Russian no more

September 27, 2023

A New Era of CBDC Transactions: IsSettled’s Worldwide Network Unveils the Future

August 26, 2023

Fallout from nuclear weapons tests on the bottom of Canadian lakes points to the beginning of a new geological era of the Earth

July 16, 2023

St Petersburg University will cancel the Liberal arts and sciences system, the human rights program and almost all English courses

July 16, 2023

Putin nationalized Russia’s largest dairy company, Danone Russia, and Carlsberg-owned brewery Baltika

July 16, 2023

RECOMMENDED NEWS

In the photo – a fragment of a…

11 months ago

Dvorkovich was expelled from the presidential council for science. Former Deputy Prime Minister spoke out against the war

1 year ago

The Robinson helicopter made a hard landing in…

10 months ago

Muscovites and residents of the region this morning…

10 months ago

Newsletter

Be the first to get the news in the Telegram newsletter!

  • About
  • Contact
  • Privacy
  • Cookie
  • Terms
  • Donate
  • Advertise
  • Sitemap
contact@russianfreepress.com

© 2022 Russian Free Press - Honest news about Russia and the whole world.

No Result
View All Result
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after

© 2022 Russian Free Press - Honest news about Russia and the whole world.