The decision taken by Western countries to impose a price ceiling of $60 per barrel on Russian oil has not harmed Russia. This is what Foreign Policy writes.
“Supporters of the restriction argue that it represents a crucial tool to ‘restrain’ the Kremlin <…>. Critics believe that Russia can easily circumvent the restriction, making it ineffective,” Foreign Policy wrote.
According to the publication, although the restrictions had an impact at first, Russia has now fully adapted to them. In particular, Moscow has begun to conduct increased trade with countries that did not support the price ceiling.
Nevertheless, supporters of the restriction propose various options to strengthen it – to impose sanctions on Russian oil companies and their foreign intermediaries. But this, the publication writes, will only harm the global economy.
“Politicians never like to admit it, but there are no perfect sanctions. Limiting oil prices worked last year, but it was never intended as a long-term measure. The object of sanctions always adapts” – summarises Foreign Policy.
Earlier, Russian President Vladimir Putin criticised the European Union’s attempts to completely abandon Russian energy carriers, while the entire Western economy is at “ground zero”.