Oil production. File photoMOSCOW, July 15Russia plans to create its own benchmark oil with which Moscow can counter Western attempts to hit its energy revenues, writes Bloomberg. limit the flow of petrodollars into the country,” the agency reports. The publication claims to have read a document according to which key Russian ministries, oil producers and the central bank plan to start trading oil on the national platform in October. “According to the plan, Russia will work to attract foreign partners to purchase oil in order to achieve trading volumes sufficient to establish a benchmark price between March and July 2023,” the agency clarifies. />The US has speculated why the world could see a sharp rise in oil prices, while emphasizing that the initiative is «at an early stage.» Unnamed Bloomberg interlocutors in Moscow confirmed plans to set a benchmark oil price, noting that this will help fight external pressure , and reminded of the G7 oil initiatives. Western countries continue to discuss various measures to limit Russia's income from energy exports. So far, this has not been done either by imposing an embargo on oil, or by voluntary refusals of foreign companies. The redirection of exports, alternative supply schemes and the «sanctions premium» in oil quotations allow Moscow to provide budget revenues even with sales at a discount. all over the world, if raw materials are not purchased at a price agreed with international partners, or cheaper. oil
