US Treasury says Western countries are planning reach the limit Marginal prices of Russian oil as of December 5 this year. This is due to preliminary decisions issued by the Office, which aim to lead to the establishment of a price ceiling.
Thus, the reliability of the information previously appeared in the media regarding the desire of the USA and the European Union to limit the price of oil from Russia was officially confirmed. TASS.
“As part of a coalition of countries, including G7 members and the EU, the United States will begin to implement a policy regarding a wide range of services related to the maritime transport of crude oil produced in the Russian Federation. its processing.
This ban will enter into force on December 5, 2022 for the transport of crude oil by sea, and on February 5, 2023 for the transport of petroleum products by sea.
At the same time, the US Treasury announced that it would be possible to purchase these energy resources “at or below the limit price set by the coalition,” even after the specified dates.
Among the objectives of these measures, the ministry listed “assuring a reliable supply volume of Russian seaborne oil in the global market, limiting the pressure that increases energy prices, and reducing Russia’s oil revenues”.
How will the price ceiling be determined?
According to Washington, the oil price ceiling from the Russian Federation will be able to jointly determine the countries that have agreed to join the coalition to set these limits. In this case, the final decision will be taken unanimously.
US Deputy Treasury Secretary Adewale Adeyemo announced that the oil ceiling price regime from the Russian Federation is also valid. recommends liability for companies that hide the origin and price of purchased oil.
The American embargo on the purchase of Russian oil will remain in effect after the Russian Federation imposes a ceiling on oil prices.
Recall that the G7 finance ministers announced on September 2 their intention to impose a ceiling on Russian oil prices by proposing the formation of a “broad international coalition”.
European Council at the beginning of last summer got the sixth pack Sanctions against the Russian Federation, including a deferred embargo on the supply of oil and petroleum products from Russia by sea. As reported in June, the crude oil supply ban was delayed for six months for petroleum products and eight months from the date the restrictions were introduced.
The partial embargo includes temporary exemptions for Hungary, Slovakia, Bulgaria and Croatia. Oil supply via pipeline was lifted from the embargo, giving countries some benefits for maritime supply and waived the ban on transporting oil from Russia by tankers under the flags of EU countries.