Passage of oil from Russia! They are preparing to ban
Speaking to Russian state channel Rossiya-24, Russia’s Deputy Prime Minister Novak assessed the agreement of European Union (EU) countries to apply a maximum price of $60 per barrel for oil transported from Russia by sea. .
Emphasizing that Russia will continue to sell oil according to market conditions, Novak said: “Even if we have to reduce our oil production, we will only sell oil and oil products to countries that work with us on market conditions.” he used the phrase.
Explaining that the application of the maximum price violates market rules, Novak said: “The Russian government has emphasized many times that this decision is anti-market, inefficient and contrary to all the rules of the World Trade Organization (WTO). he said.
Noting that they are preparing to ban the use of price-cap tools, Novak said, “We are working on mechanisms that will prohibit the use of price-cap tools. We believe that the maximum price can generate instability, scarcity of energy resources and a decrease in investments”. he said.
EU countries agreed on December 2 to impose a maximum price of $60 a barrel for oil transported by sea from Russia.
The G7 countries and the EU will also impose a ban on imports of seaborne oil from Russia starting December 5. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
