MOSCOW, Dec 17 Western set maximum price for Russian oil will not allow to reduce Moscow's revenues, but at the same time will hit Europeans, writes Foreign Policy.
The article explains that the marginal cost of an energy resource agreed upon by the countries of the European Union, the United States, the G7 and Australia at the level of $60 per barrel, although it is submitted in the West as a diplomatic victory, will not be able to significantly reduce Russia's profits.
The publication cited data on oil quotes and transactions: for example, in recent years, Russian raw materials have been sold at an average price of about $60, and discounts on the Urals brand have been halved since the beginning of the Ukrainian crisis. At the same time, the cost of a barrel of Brent fell to $76 just three days after the entry into force of the «ceiling». the cost of energy products on the world market.
The magazine claims that in January the EU will revise the price cap: Poland insists on lowering the bar to $30 per barrel, while Greece, Cyprus and Malta, who earn on the transportation of raw materials, oppose such a measure.
Differences on this issue, as well as on the embargo on imports of Russian oil by sea, may create difficulties in maintaining unity on the issue of fuel sanctions. At the same time, the EU, even before the introduction of the price ceiling, headed for the rejection of Russian fuel, so this measure should not affect the Kremlin's finances, writes FP. The publication predicted an increase in complaints from European countries about the ineffectiveness and harmfulness of sanctions for themselves.
Western oil sanctions came into force on December 5: the European Union stopped accepting Russian oil transported by sea, in addition, the G7 countries, Australia and The EU imposed a price cap on such raw materials at $60 per barrel. Deputy Prime Minister Alexander Novak, commenting on the decision, said that Russia would not accept the «ceiling» even if it had to cut production. He added that such restrictions are interference in market instruments, and Moscow is ready to cooperate only with those consumers who will work on market conditions.