Aleksey Belogoryev, deputy chief energy director for energy at the Institute of Energy and Finance (IEF), said international traders, not buyers, benefited from the reduction in Russian oil as a result of Western sanctions. It has been reported DEA News.
According to him, traders mainly act as a link between oil producer and consumer.
“A significant part of the reduction in Russian oil (i.e. reductions in the price of Brent) consists of traders’ surplus profits. At this discount, the least benefits buyers themselves, ”says the expert.
He added that the real problem for Russian oil companies is not price spikes, but the “extremely increased appetite of oil traders” and “incredible freight rates”.
Former Azerbaijani expert, economist Natik Jafarli declarationThat Moscow’s tight control over the sale of Russian oil to countries participating in the sanctions and price ceilings will be very tangible for them.
On December 27, Russian President Vladimir Putin signed a decree on retaliatory measures to set a ceiling price for Russian oil. It is understood from the decree that the supply of oil and petroleum products from Russia to countries that set ceiling prices in the contract is prohibited.