He believes the $60 mark is too high, though he believes the measure will help sink the country’s economy
The head of the Office of the President of Ukraine, Andriy Yermak, believes that the cap on oil prices set by the countries of the European Union, the G-7 and Australia at $60 (57 euros) per barrel will end the sinking the Russian economy, but believes it would have been better if such a limit had been set at USD 30 per barrel. As Yermak points out on his Telegram channel, “following the EU’s lead, the G-7 and Australia have introduced a ceiling on the price of oil shipped from Russia by sea at $60 a barrel (…) although it should have been reduced to 30 dollars in order to destroy the enemy’s economy more quickly,” Poland and the Baltic republics advised.
However, the measure, which will take effect from Monday, will not affect fuel reaching Europe via the pipeline, as requested by Hungary. Anyway, the head of the Ukrainian presidential administration assured: “we always achieve our goals and the Russian economy will be further destroyed. Russia will have to pay and be held accountable for all its crimes.”
According to him, “the same will happen with the establishment of the international special court” to prosecute war crimes committed by Russian troops. Yermak is convinced that “they are very afraid of this because they know Ukraine will get away with it,” he wrote on Telegram. However, the Kremlin stressed this week that such a court would not be legitimate. The cap on the price of crude oil joins numerous sanctions packages the West has adopted against Russian natural and legal persons since the start of the war on February 24.
For his part, Kremlin spokesman Dmitry Peskov today warned that “we will not accept that ceiling” and that Russia will try to sell its oil to other countries. According to Peskov, “we are evaluating the situation. Certain preparations have been made for such a cap. We do not accept it and we will inform you how the work will be organized once the analysis is completed. More powerful is the statement of the Russian embassy in the United States, where they warn that “Washington strategists, hiding behind such noble slogans as guaranteeing energy security for developing countries, maintain a wall of silence about the fact that current imbalances in the energy markets result from his ill-considered actions: the introduction of sanctions against Russia and a ban on the import of energy from our country.”
That is the wording of the Russian diplomatic statement, which also denounces that the West is “trying to solve the problems they themselves have impetuously created”. “We are witnessing a revision of free market fundamentals (…) decisions such as these will inevitably lead to greater uncertainty and higher costs for the consumers of commodities,” the note continues, concluding by saying that “regardless of the flirting with this dangerous and illegitimate tool, we are convinced that demand for Russian oil will continue.”
Source: La Verdad
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