Vladimir Putin warns. On Thursday, the Russian president threatened “serious consequences” in the event of a cap on the price of Russian oil, while several countries in favor of such a move are due to announce his decision soon.
The coalition of states that wants to impose a cap on the price of Russian oil, which includes the G7, the European Union and Australia, should announce the planned cap “in the coming days,” a Treasury official from the Finance Ministry said on Tuesday. American. .
An implementation before the new sanctions
The objective is to reach a maximum price for Russian hydrocarbons that can be put into operation before the entry into force of the new European sanctions, scheduled for December 5.
This new series of sanctions provides, in particular, for the prohibition of insurers and reinsurers to cover the maritime transport of Russian oil, with European operators being exempt in the event of an agreement if the oil is sold at a price less than or equal to the pre-established ceiling.
Limiting the price of oil sold by Russia should allow it to reduce its financial resources and, therefore, its ability to continue the offensive in Ukraine, but also to contain the rise in energy prices. However, this price should remain higher than the production price, to encourage Russia to continue selling it and not cut the floodgates.
Source: BFM TV
