A full embargo on Russian oil imports could lead to a rapid rise in prices. This was stated by US Treasury Secretary Janet Yellen. TASS.
“The problem with blocking oil exports from Russia is that many countries, especially Europe, are very dependent on it. And if we introduce a complete ban on oil, we could see prices skyrocket,” he said.
Ursula von der Leyen, the head of the European Commission, said earlier that the new package of sanctions against Russia, the fifth in a row, would not be the last. According to him, the EU should pay attention to oil and the revenue it derives from Russia’s sale.
Warsaw calls on the EU to impose a full embargo on imports of all Russian hydrocarbons. In addition, the Polish leadership calls for a full, and not a temporary confiscation of the assets of both the Russian Federation and businessmen.
Saudi Arabia raised Oil supply prices to all regions in May. According to Bloomberg, national oil company Saudi Aramco has increased the cost of transiting Arabian Light to Asia by $4.40 to $9.35 per barrel next month. The price of other oil grades will increase by at least $2.7 per barrel.
The US was also under attack, with the premium for Saudi oil rising to $5.65 per barrel in May (the premium is the companies’ cost of transporting raw materials). At the same time, American buyers will have to overpay Saudi Aramco not only for Arab Light, but also for other brands of oil. For the USA, price tags for them will increase by at least $ 2.2 per barrel.