Russia is now apparently serious about cutting off oil supplies to Europe, which has been under threat on several occasions. “From this year, Europe will live without Russian oil,” Russian ambassador to international organizations in Vienna Mikhail Ulyanov wrote on Telegram. The EU countries and Australia have agreed on a price cap for Russian oil of $ 60 (57 euros) per barrel, adopting a plan of the seven leading industrialized countries (G7).
The price cap should be enforced by ensuring that insurance companies and shipping companies are only allowed to participate in Russian oil deals if the commodity sells for less than $60 a barrel (159 liters, note). Moscow has announced a delivery boycott for countries participating in a price cap.
Moscow sees violation of free market laws
Russia describes the planned oil price cap as dangerous and sees it as a violation of free market laws. That would only add to the uncertainties and drive up the cost of raw materials, according to a message from the Russian embassy in the United States on Telegram. But Russian oil will still be in demand.
Approved upper limit for Ukraine too high
Ukraine, on the other hand, described the upper limit of the price set by the West as too high. In order to “destroy” the economy of the Russian enemy more quickly, it is necessary to lower the price to $30, the head of the Ukrainian presidential bureau Andriy Yermak said on his Telegram channel on Saturday.
At the same time, he welcomed the fact that the G7, Australia and the EU had decided on this price cap for oil transport by sea. “We always achieve our goal and the Russian economy will still be destroyed. And Russia itself will pay and be responsible for crimes,” Yermak wrote.
Source: Krone
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