At the same time, the United States is confident that the introduced “price ceiling” still helps divert Kremlin revenues that Moscow could spend on the war in Ukraine.
Russian oil continues to rise in price despite price caps from the G7.
Bloomberg writes about this.
According to Argus Media Ltd, prices for Russian oil rose to $85.35 per barrel from the Baltic port of Primorsk and $86 from the Black Sea port of Novorossiysk.
In The G7 stated that they would not revise the price ceiling for oil from Russia, the limit of which was set at $60 per barrel. This measure is aimed at limiting Moscow's oil revenues.
Bloomberg recalls that after the start of a full-scale war by the Russian Federation in Ukraine, prices for Russian crude oil fell to $30 per barrel or even less. However, now the situation has changed dramatically: in recent months, oil from the Russian Federation has been rapidly rising in price. This happened, in particular, because Russia and Saudi Arabia reduced their maritime supplies.
The publication explains that the rapid rise in oil prices is a sign that any benefits from the restriction are diminishing. In turn, European insurers and shipowners continue to work with Russian oil.
To avoid sanctions, European service providers must receive a piece of paper certifying that the cargo was purchased below $60 per barrel. Rarely does anyone have a true understanding of the cost of a shipment, so trade with Russia continues despite the current price level.
At the same time, the United States is confident that the introduced “price ceiling” is all It also helps divert Kremlin revenues that Moscow could spend on the war in Ukraine. Thus, Russia had to assemble a fleet of “shadow” tankers to transport its oil. And you have to pay for the maintenance of such a fleet.
It was previously reported that Russia still sells its oil and gas on the foreign market. But it suffers from a decrease in income, because in order for these countries to buy Russian oil, the Russian Federation provides them with huge discounts.
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