Head of the Russian Ministry of Energy Nikolai Shulginov said that the export price of Russian oil currently reflects the real situation of the world market. writes about this RIA News.
According to Shulginov, the price allows all market participants to both “obtain the resource at an adequate price and ensure the reinvestment of funds into production to maintain supply.”
He also emphasized that the price ceiling for Russian oil is “an illegitimate and harmful tool for the global economy.”
Before reportedIt is stated that the ongoing rise in oil prices may prevent the West from struggling with high inflation.
5 December 2022 EU entry Seaborne oil supplies from the Russian Federation were embargoed, and G7 and Australian authorities set a ceiling of $60 per barrel. Since February 2023, similar restrictions have affected oil products ($100 and $45 per barrel). At the same time, Russia found ways around the restrictions by exporting oil through non-Western intermediaries. According to the Russian Ministry of Finance, the cost of Ural oil per barrel in August 2023 was an average of $74.
Previously recognizedWhen oil prices fall to $50 per barrel.
Source: Gazeta
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