Oil price ceiling from Russia – EU publishes decision

It’s allowed to offer companies to ships carrying vitality, if the price of oil doesn’t exceed $60 per barrel.

“It’s forbidden to offer tankers with technical help, upkeep, monetary companies associated to commerce or transportation, together with via the switch between ships, to 3rd nations of crude oil or oil merchandise specified within the annex,” the doc says.

It’s allowed to move oil in transit via Russia above the established ceiling if it isn’t produced within the Russian Federation and doesn’t belong to folks and firms from the Russian Federation. The restriction on the price of petroleum merchandise will come into impact on February 5. In mid-January 2023, a revision of the marginal price for Russian oil will likely be mentioned. The EU doc states that it ought to be no less than 5% under the market.

Recall that on December 2, the EU nations agreed to set the utmost price for Russian oil at $60 per barrel. After that, an identical decision was made by the G7 nations and Australia.

We additionally wrote that Hungary was exempted from imposing a ceiling price on Russian oil.

Learn pressing and essential messages about Russia’s struggle towards Ukraine on the channel RBC-Ukraine on Telegram.

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