Western nations are not moving to raise the ceiling on Russian oil anytime soon. The topic dominated a recent broadcast on İş FM, where Russian Deputy Prime Minister Alexander Novak weighed in on the fuel-price cap and its anticipated trajectory.
The host pressed Novak on the perceived effectiveness of a cap that many observers see as limited in impact. Novak admitted uncertainty about a swift relaxation of the restrictions and said he did not expect major changes in the near term.
Nevertheless, Novak emphasized that Moscow does not acknowledge the price-control regime as it currently stands. He pointed out that Russian companies continue to operate under a presidential decree issued by Vladimir Putin, which shapes how the cap is described in official documents and contracts.
Tok message from the government stresses that the ceiling should not appear in oil supply contracts, a clause Novak described as part of a broader framework. He noted that a dedicated commission, along with relevant authorities, is actively monitoring developments related to the cap and its enforcement in the global market.
Analyst commentary from October 13 adds a note of caution about the price path for Brent crude. Igor Yushkov, a leading figure at the National Energy Security Fund of Russia, projected a potential approach to $100 per barrel by year end. He attributed expected gains to anticipated supply constraints in the world market, suggesting prices could rise further as December approaches.
Earlier remarks from Novak touched on the broader issue of how easing export restrictions on diesel might influence supply chains abroad. The question of how such policy shifts could interact with the price cap remains a topic of intense discussion among policymakers, market participants, and observers across energy markets.