The Russian Federation has prepared three possible responses to the oil price ceiling imposed on December 5 – even a complete ban on the sale of resources to G7 and EU countries is not ruled out.
Russian authorities are considering three possible options for a response to the introduction of a ceiling on Russian oil import prices by G7 and EU countries, Vedomosti reported citing sources.
The first option for Russia’s possible retaliatory measures envisages a complete ban on oil sales to countries that have joined the sanctions. The second would ban exports of oil products under contracts that include a price ceiling mechanism. And the third considers the introduction of an indicative price – determining the maximum discount of Russian Urals oil to the benchmark Brent grade.
It is noted that none of the options has been approved so far. The search for other alternatives or combinations has not been ruled out either. Recall that the G7 countries, the EU and Australia have agreed to import Russian oil at a maximum of $60 a barrel, subject to a mandatory 5% differential with the market in its favour.
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