in Moscow, unenthusiastic reactions to the ceiling of the price of the barrel to 60 dollars

in Moscow, unenthusiastic reactions to the ceiling of the price of the barrel to 60 dollars

in Moscow, unenthusiastic reactions to the ceiling of the price of the barrel to 60 dollars

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In tune with the times, the countries of the European Union followed by the G7 finally agreed on Saturday. A cap of $60 a barrel on maritime exports of Russian oil will soon take effect to curb the contribution of hydrocarbons to the war effort in Ukraine. In Moscow we try to show serenity in the face of this new sanction.

With our correspondent in Moscow, julian colling

Russia has already prepared for this price cap “This is how Kremlin spokesman Dmitry Peskov stated, without specifying the nature of these measures. Dmitry Peskov, who also stated that Russia ” refused Unsurprisingly, this ceiling was set at $60 per barrel. In the process, the Russian ambassador to international organizations in Vienna, Mikhail Ulyanov, declared that this ceiling simply meant the end of deliveries, and a winter without Russian oil for Europe.

But above all, Moscow has a tangible piece of reassurance: a ceiling of $60 is, in fact, barely lower than the current price of a barrel of Ural crude, which sells for around $65. The short-term impact, therefore, must be put into perspective, for a Russian economy already accustomed to sanctions and which has cushioned its shock wave better than expected.

Read: Russian Oil: Experts Divided on the Effectiveness of the Russian Barrel Price Cap

A decision considered too cautious for Zelensky

Ukraine’s President Volodymyr Zelensky also sharply criticized an overly cautious decision by Europe on Saturday night. He thinks that cap should have been put at 30 dollars and not 60, to really “ destroy the russian economy as Kyiv demanded.

As a reminder, despite the sanctions, Russia has already been able to extract some $70 billion of its oil since the start of the intervention in Ukraine, taking advantage of increased exports to China and India in particular.

Read: An OPEC+ meeting fraught with uncertainties for world oil

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