The EU embargo and the "cap" for Russian oil prices: what are the global energy market and the Russian economy awaited?

Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, took part in the Round Table of the International Media Group "Russia Today" on the topic "The EU embargo and the "cap" for Russian oil prices: what are the global energy market and the Russian economy awaited?"

On December 5, the provision of the 6th package of the EU sanctions, approved back in June, came into force, which contains a complete ban on the purchase of Russian oil transported by sea. From the same day, the G7 and the EU countries, by a joint decision, planned to ban their banks, insurance companies, tankers and ports from providing any services related to the sea export of Russian oil in excess of the price ceiling they set. However, negotiations in the European Union on the level of the price limit for Russian oil have not been successful due to disagreements between member states.

How do attempts to reduce Russia's energy revenues affect the global market? How will these measures affect the Russian economy and the Russian fuel and energy complex?

The Roundtable was also attended by:

• Vyacheslav Kulagin, Head, Center for the Study of World Energy Markets, The Energy Research Institute of the Russian Academy of Sciences;

• Leonid Grigoriev, Academic Supervisor, Professor, Faculty of World Economy and International Affairs, School of World Economy;