Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, gave a comment to Kommersant FM regarding the statement by the US financial authorities that there are no intentions to impose secondary sanctions against buyers of Russian oil above the maximum price:
“I don't see any major changes in the mood of the main buyers of Russian oil. Today they are India and China.
They still count on interaction with Russia, are extremely cautious about any possibility of imposing a price ceiling on raw materials, and China is completely opposed to this initiative.
The tools offered by the US authorities are aimed at sending a signal to countries that do not support the G7 initiative that it will be more difficult for them to buy Russian oil in the future both from a formal and financial point of view.
Russia already supplies significant volumes of its oil to the Indian and Chinese markets by insuring these cargoes in the Russian financial system using a Russian reinsurance company. In the future, it is possible to use such a tool as the provision of state guarantees, which our Chinese partners are very fond of.”
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