Sunday, June 4, 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

Bloomberg: Russia will set a “price bottom” for its oil

December 6, 2022
in Daily News
Share on FacebookShare on Twitter

The Russian authorities are considering the possibility of introducing a "bottom" of prices - a minimum value, a fall below which will make it impossible to sell oil of Russian origin. The move is intended to be a response to the Western oil price cap mechanism, which prohibits serving Russian companies selling oil at prices above $60 per barrel. This is reported by Bloomberg, citing sources close to the Russian leadership.

Sources of the publication claim that Moscow is considering two options: either a fixed "bottom" of prices, or the maximum amount of discount in relation to the reference grades of Brent and WTI oil. The sources of the agency did not give any clear guidelines, while traders are only interested in one thing: how much higher or lower the already established ceiling will be the "bottom".

The source of the publication assured that Russia seeks to offer its customers a simple and understandable pricing mechanism based on the market. At the same time, Moscow does not want to harm neutral countries with its measures, thus putting pressure on them, the source notes. Both Russian mechanisms involve the introduction of a single standard for all Russian companies: either this is the minimum oil price, or this is the maximum discount in relation to the international benchmark. Both indicators will be "floating" - that is, their size will change depending on the current market conditions.

At the same time, the Russian authorities have not even discussed such measures with the oil business itself. The agency notes that Russian President Vladimir Putin intends to adopt a corresponding decree that will directively oblige all Russian oil companies, as well as traders cooperating with Russian companies, to comply with the chosen measures. To countries that agree to comply with the ceiling set by the Western coalition, Russia will not supply its oil.

On December 5, the Russian oil price ceiling mechanism came into force , which prohibits the provision of services to Russian companies if the oil price is above $60 per barrel. Sanctions apply to financial, logistics, insurance and other types of services. In the future, the price ceiling may be revised if the market situation requires it.

Read also

“Wagnerites” captured a lieutenant colonel of the RF Armed Forces. He is accused of mining escape routes from Bakhmut for mercenaries – interrogation video

June 4, 2023

The RDK commander accused Governor Gladkov of cowardice and praised Prigozhin for his willingness to negotiate

June 4, 2023

Russia and OPEC to limit oil production until the end of 2024

June 4, 2023

Belgium will demand Ukraine to explain how Belgian weapons fell into the hands of the Russian Volunteer Corps – Le Soir

June 4, 2023

More than 45 people detained at rallies in support of Alexei Navalny

June 4, 2023

“Navalny is being beaten according to the Gulag scheme, but if he survives, the executioners will retreat,” former political prisoner Alexander Podrabinek

June 4, 2023

RECOMMENDED NEWS

Serbian radical Knezevic arrested for promoting PMC Wagner

4 months ago

Shakira asked for more than 8 years in prison and a fine of more than € 23 million for tax evasion

10 months ago

Russian tanks in America, the Russian Ministry of Defense hides losses from the FSB, the Armed Forces of Ukraine blow up abandoned buildings in Bakhmut. What’s going on at the front

2 months ago

In the Moscow metro, a passenger stabbed a…

6 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.