According to US officials, the US is trying not to take steps that threaten Russian oil supply, as it could cause world prices to rise.
Last week at the White House, US President Joe Biden told European Commission President Ursula von der Leyen that Washington has no desire to fix oil sanctions on the Russian Federation. This was reported by The Wall Street Journal on March 15, citing its sources.
The publication says that Western countries have agreed to revise the price ceiling for Russian oil to $60 per barrel in March 2023. This was because the authorities of Poland, Ukraine and the Baltic states were in favor of setting a lower price for oil from the Russian Federation.
However, according to media reports, the authors of the US Treasury’s price cap plan believe that current restrictions on Russian oil meet expectations. The ministry said that its plans allow simultaneously to maintain the presence of Russian oil on world markets and to cut the income of the Russian Federation.
Representatives of the Ministry of Finance noted that they are ready to amend oil sanctions against Russia, if necessary. According to US officials, the US is trying not to take steps that threaten Russian oil supply, as it could lead to higher prices.
The US National Security Council press service declined to comment on the matter.
A European Commission spokesman said there was no mention at Wednesday’s EU meeting of Joe Biden’s statement on lowering the ceiling on Russian oil prices.
On Wednesday, March 15, Bloomberg reported that Poland, Lithuania and Estonia are urging their allies to lower the cap on Russian oil prices from $60 to $51.45 a barrel in March 2023. According to journalists, the 27 EU member states would discuss this issue at the next meeting.
Recall that the oil embargo on offshore oil supplies from Russia to the EU came into effect on December 5, 2022. The ceiling price of Russian oil was set at $60 per barrel.
According to Reuters on February 28, Russia’s profits from energy exports fell 38% in 2023, due to price caps and reduced supply volumes. In January, Russia’s revenue from oil and gas sales totaled $18.5 billion, compared with $30 billion in the same period in 2022.
At the same time, the Russian Federation is strengthening cooperation with the UAE to sell its energy resources, and also uses a shadow fleet of around 600 ships, or 10% of all the world’s major tankers, to deliver its oil to buyers.
Source: Focus
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