The United States is preparing another package of sanctions against Russian oil, writes The Wall Street Journal. It’s about capping oil prices.
According to The Wall Street Journal, the United States is working on another package of sanctions aimed at imposing limits on petroleum products of Russian origin.
According to the plan, from February 5, two price limits will be in effect for Russian oil products. The first is for high value products such as diesel and the second is for low value products such as fuel oil.
Oil sanctions
Since January 5, there has been a price restriction on the import of Russian oil. According to Bloomberg, the main grade of Russian oil is sold for more than half the price on international markets. According to the agency, the main factor behind the decline was the embargo on Russian oil transported by sea. The loss of its largest market has left Russia “at the mercy of a tiny group of large buyers, especially China and India.” Sanctions are beginning to bear fruit, with Russian officials acknowledging that state revenues have dwindled.
Recall that in early December last year, the G7 countries, Australia and the European Union agreed to set a price ceiling for Russian oil transported by sea at $60 per barrel. Initially, the maximum price was to be set at $65-70 per barrel, but Poland, Lithuania and Estonia opposed such a decision. Representatives of the three countries decided that such a ceiling did not meet the main goal of the agreement - to limit Moscow’s ability to finance the war in Ukraine.
Source: Wprost
