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Page added on December 3, 2022
Russia Won’t Accept $60 Price Cap on Its Oil
Russia will not accept the $60 per barrel price cap for its crude oil agreed upon by the European Union, the state news agency Tass reported, citing Kremlin spokesman Dmitry Peskov.
It was the Kremlin’s first reaction after European diplomats decided on the threshold on Russian oil Friday evening following lengthy negotiations.
The cap will ban companies from providing services, including shipping and insurance, to Russian oil shipments anywhere in the world, unless it’s sold below the agreed level.
“We’re analyzing it now,” Peskov said on Saturday. “Some preparation has been made for such a cap. We will not accept this cap.”
Moscow will announce how the work will be organized after the analysis is over, Peskov said, adding that it will be conducted quickly.
The Kremlin has been drafting a presidential decree that will prohibit Russian companies and any traders buying the nation’s crude from selling it to anyone that participates in a price cap mechanism, a person with knowledge of the matter said at the end of last month.
The decree would essentially ban any reference to a price cap in contracts for Russian crude oil or products, and prohibit loadings destined for any countries that adopt the restrictions.
Deputy Prime Minister Alexander Novak said in November that Russia will redirect its oil supply to “market-oriented partners” or will reduce its production.
Russia’s flagship crude oil rallied to just above $50 a barrel on Thursday, but has been well below the European Union’s $60 price cap for almost two weeks.
4 Comments on "Russia Won’t Accept $60 Price Cap on Its Oil"
makati1 on Sat, 3rd Dec 2022 3:03 pm
And bloombug is a reliable source of info? It is owned by the same elites that own the other purveyors of propaganda, bullshit, lies and hypocrisy called: CNBC, CCN, BBC, NYT, WaPo, etc.
The West is still shooting itself in the foot, slitting its wrist, and doing other destructive things to itself. So be it.
Most of this article is old news to those who do not rely on censored “news”sources. The East will buy all the oil Russia wants to sell, as it has been doing. They can insure and ship without the West.
Has there ever been such a collection of insanity/stupidity in the Western “leadership”? Not in my 78 years. But there is always a first time and now we are witnessing it. Will humanity survive? Tune in tomorrow….
Theedrich on Tue, 6th Dec 2022 5:50 pm
The Ukrainian (proxy) “government” has no concern whatsoever for the Ukrainian people. That regime is simply an inanimate puppet (a Frankenstein’s monster) of bloodthirsty Biden and his crew (e.g., Victoria “Fuck-the-EU” Nuland) of geopolitical vampires. Ukrainians themselves are simply doomed pawns to be sacrificed for the purposes of political showmanship in the West.
The American crime syndicate, paid and directed by oligarchic globalists, intends to conquer the entire world, starting with Russia. In this strategy, the fate of whole peoples such as the Ukrainians — or even of European nations, starting with Germany — mean nothing. Mass death is the main tool of the megalomaniacs.
On the matter of the Ukrainian drones attacking the airfields at Ryazan (Ряза́нь) and Engels (Э́нгельс), the Russian defense and warning systems need to be seriously upgraded. The attacks make it clear that the U.S. can clearly attack these strategic bases, which is cause for alarm, given the mentally unstable U.S. planners. Russia needs to reconsider its ideas about defense against the U.S. and its proxies.
As far as the so-called “oil cap” is concerned, its only effect will be to boomerang on the U.S. vassals of Europe. Tough luck.
𝖁𝖊𝖗𝖎𝖙𝖆𝖘 𝖑𝖎𝖇𝖊𝖗𝖆𝖇𝖎𝖙 𝖛𝖔𝖘.
makati1 on Tue, 6th Dec 2022 9:50 pm
China and India already have oil agreements with Russia and will just buy the oil and trans-ship it to the freezing EU at very profitable prices. The oil will flow…no matter what bloomborg claims.
Lophen on Mon, 13th Feb 2023 3:20 am
A pretty tight price deal we become what we behold.