Oil strategist Julian Lee said in an article: BloombergThe opinion is that the ceiling imposed by Western countries on oil prices from the Russian Federation should be removed because it does not work.
According to him, the price ceiling does not allow the Russian Federation to reduce its income from hydrocarbon exports. At the same time, in his opinion, the restrictions do not harm Russia’s income, but increase environmental risks.
He also believes that restrictive measures have led to an increase in risky operations to transfer oil from one tanker to another at sea.
Former Deputy Director of the UK Treasury Joanna Penn statedIt was stated that the United Kingdom discussed with the rest of the Group of Seven (G7) countries the effectiveness of the price ceiling applied to Russian oil and the possibility of revision to the price ceiling due to changes in the world market.
He said G7 countries should continue to monitor the effectiveness of price caps.
According to him, the price ceiling supposedly successfully reduces the income of the Russian Federation and increases the costs of exporting raw materials, while providing the world market with the required amount of supplies.
Previously recognizedWhen oil prices fall to $50 per barrel.