HomeMediaLatest NewsRussia has responded to the oil price ceiling

Russia has responded to the oil price ceiling

27 December 2022

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented to Business FM on the opportunity provided by law to sell fuel to those buyers who are probably fundamentally important for Russian oil companies.

The decree was signed by the President. The document prohibits the sale of oil and petroleum products to buyers who have joined the price ceiling. At the same time, there are exceptions.

"Apparently, oil companies should make such an offer if there is a high interest in supplying oil to this particular buyer or in supplies using this insurance company, based, apparently, on their indispensability. I don't think anyone will use these mechanisms in practice in the near future. They look more symbolic than those that can actually be used," the expert noted.

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