Sergey Fursa suggested that it could be in the 7th package of sanctions/Collage 24
European countries have been negotiating the sixth package of sanctions against Russia for quite some time, which finally included a partial and gradual ban on oil imports aggressor country. In the context of the sanctions, Europe has done almost everything it could, but perhaps in time a seventh package will appear.
This was told to Channel 24 by investment banker Sergey Fursa. He suggests that if the next package of sanctions against Russia comes, it will focus on limiting the price of Russian oil.
Limiting the price of oil from Russia is a fairly realistic forecast
“In fact, this is the key thing now, because the Russian budget in May is already at 70 % depends on oil and gas revenues. Now, even with falling oil sales, and they are constantly falling, due to the high price, Russia still receives some money, “Fursa said.
To change this situation, European countries can set the maximum price limit for Russian oil – they will not buy it at a higher price. It is noteworthy that such a restriction can apply not only to Europe, but to the whole world – the Europeans can influence this with secondary sanctions.
That is, any oil in the world can be sold at any price , and Russian – only at this price. Relatively speaking, we all buy oil in Russia for $50, and any country or operator can only buy it for $50,” the expert explained.
He believes that even India and China will be happy to comply with these sanctions: “We are buying oil at $50, not $100? With joy!” the seventh package of sanctions, and it will work. To do this, it will only be necessary to agree on the details and agree on certain legal mechanisms. However, Sergei Fursa stressed that this package may not appear until autumn.
The banker also spoke about the consumption of Russian gas by the countries of the world. Within the framework of sanctions restrictions, it is unrealistic to impose an embargo on it, however, according to the expert, Russia is limiting itself.
“Since the beginning of the year, gas exports outside the former Soviet Union have decreased by 30%, and now they continue to turn on the tap and they are playing some games with the Germans, with the French,” Fursa commented.
He believes that, although Europe will not now accept gas restrictions on its own, most countries have a plan to reduce its consumption by two-thirds before the end of the year.
