WASHINGTON, Mar 14 Russia sells 75% of its oil without resorting to Western services, the US Treasury has calculated.
«A quarter of Russia's oil trade is carried out using some kind of Western service, three-quarters using non-Western services,» US Undersecretary of the Treasury Ben Harris said during an event at the American Enterprise Institute.
Western oil sanctions against Russia came into force on December 5, 2022: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced price limits for it during sea transportation at the level $60 per barrel — it is forbidden to transport and insure more expensive oil. Russia, in response, banned from February 1 to supply oil to foreigners, if the contracts directly or indirectly provide for the use of the mechanism of fixing the marginal price.
From February 5, fuel sanctions began to take effect: the European Union banned the import of Russian oil products, while the EU and the G7 countries set a price ceiling for them. The limit is set at $100 per barrel for oil products from Russia traded at a premium to the benchmark oil grade (diesel fuel), and $45 per barrel for those traded at a discount (fuel oil).