MOSCOW, Jan 27 of the planned revision of the price limit for oil from the Russian Federation, they want to maintain the «ceiling» of $60 per barrel, Estonia, Lithuania, Poland are in favor of lowering it to $40-50, Bloomberg reports.
«The US and allies want to wait until March to revise the ceiling on crude oil prices and keep the limit at $60 for now, as they say the new mechanism is already working to cap prices. However, the coalition led by Estonia, Lithuania and Poland, are pushing for lowering the price cap for crude oil, which they consider to be too high compared to current market prices… They are pushing for lowering the cap to somewhere between $40 and $50.» in the agency's message.
A statement from the three countries, available to the agency, says that while the oil price limit «works», it is necessary to use this mechanism further.
From December 5, 2022, Western oil sanctions came into force: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced a price limit for it during sea transportation at the level of 60 dollars per barrel — it is forbidden to transport and insure more expensive oil. Russia, in response, banned from February 1 of this year the supply of oil to foreign entities, if the contracts directly or indirectly provide for the use of the mechanism for fixing the marginal price.