In a recent interview, the idea of lowering the price ceiling for Russian oil was described as unprofitable for the West. Vitaly Bushuev, the Director General of the Energy Strategy Institute, argued that a price of sixty dollars per barrel works for both Russia and Western economies. He suggested that no party has an incentive to disrupt this balance, implying that a change would not benefit anyone involved.
He added that the ceiling does not effectively reduce Russia’s income. If the ceiling were lowered, he explained, it would not help Western buyers or their allies because it could slow down oil supply from other countries. The net effect would likely be a less efficient market rather than a more favorable price, according to his assessment.
Earlier reports indicated that Estonia, Lithuania, and Poland proposed reducing the ceiling from sixty dollars to fifty one point four five dollars per barrel. Their proposal called for a threshold set five percent below prevailing market prices, aiming to tighten the cap in a way that would influence pricing dynamics more directly.
Subsequently, observers noted that the Group of Seven nations planned to keep the fixed price at sixty dollars per barrel for Russian oil, signaling a synchronized approach among major economies. The discussion reflects a broader debate about how price controls might shape supply, energy security, and inflation in North American markets and beyond. [Source: Energy Strategy Institute interviews and regional policy reports].