A tightening of the price ceiling for Russian oil is not yet expected. This opinion was expressed in a conversation by Andrey Listovsky, General Director of the Energy Development Fund. lenta.ru.
Currently, only a third of Russian oil is exported via tankers owned by other countries that comply with price caps, according to the analyst. Russia sells two-thirds of its oil with its own tankers.
“Formally there is a ceiling, but in fact it has not worked for a long time,” Listovsky explained.
He also stated that tightening the price ceiling would only be possible by physically seizing tankers, which would mean declaring war on Russia and no one would accept this.
November 6 Issue of The Wall Street Journal reportedIt was stated that the USA will continue to implement new measures against Russia due to non-compliance with the oil price ceiling. In particular, suggestions were developed for port managers to increase Russia’s oil transportation costs. It is expected that the list of conditions will also include the presence of compulsory insurance for movement in waters.
The US had previously agreed to sanctions decrease Russia’s oil revenues.