According to US officials, the US is trying not to take steps that threaten the supply of Russian oil, as this could lead to an increase in world prices.
Last week at the White House, United States President Joe Biden told European Commission President Ursula von der Leyen that Washington has no desire to correct the oil sanctions imposed on the Russian Federation. This was reported on March 15 by The Wall Street Journal, citing its sources.
The publication says that Western countries have agreed to revise the price ceiling for Russian oil at $60 per barrel in March 2023. This is due to the fact that the authorities of Poland, Ukraine and the Baltic countries were in favor of setting a lower price for oil from the Russian Federation.
However, according to media reports, the authors of the price cap plan from the US Treasury believe that the current restrictions on Russian oil met expectations. The department said that their plan allows to simultaneously maintain the availability of Russian oil on world markets and cut the income of the Russian Federation.
Representatives of the Ministry of Finance noted that, if necessary, they are ready to make changes to the oil sanctions against Russia. According to US officials, the US is trying not to take steps that threaten the supply of Russian oil, as this could lead to higher prices.
The press service of the US National Security Council declined to comment on this matter.
A European Commission spokesman said Wednesday’s EU meeting made no mention of Joe Biden’s statement about lowering the ceiling on Russian oil prices.
On Wednesday, March 15, Bloomberg reported that Poland, Lithuania and Estonia called on allies to lower the upper limit on Russian oil prices in March 2023 from $60 to $51.45 per barrel. According to journalists, 27 EU member states were to discuss this issue at the next meeting.
Recall that the oil embargo on offshore oil supplies from Russia to the EU came into force on December 5, 2022. The price ceiling for Russian oil was set at $60 per barrel.
According to Reuters on February 28, due to the introduction of a price ceiling and a reduction in supply volumes in 2023, Russia’s profit from energy exports fell by 38%. In January, Russia’s revenues from the sale of oil and gas amounted to $18.5 billion, compared with $30 billion for the same period in 2022
At the same time, the Russian Federation is strengthening cooperation with the UAE to sell its energy resources, and also uses a shadow fleet, consisting of about 600 ships, or 10% of all the world’s large tankers, to deliver its oil to buyers.
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