The EU and the G7 countries agreed to set a ceiling price for Russian oil.
The post on the official social media account of the President of the European Union (EU) Term, the Czech Republic, stated that member state representatives agreed on a ceiling price for Russian oil.
The post pointed out that “the ambassadors have reached zihin agreement on the price ceiling for oil shipped from Russia by sea”, and that the decision will come into force after it is published in the EU’s Official Journal.
The G7 and EU countries were negotiating to impose a ceiling price on Russian oil.
The G7 last week proposed setting a cap price of $65 to $70 per barrel for oil shipped from Russia by sea.
Within the EU, Poland, Lithuania and Estonia in particular worked towards a much lower ceiling price, and unanimity prevented the necessary decision from being taken.
Greece, Malta and the Greek Cypriot Government of Southern Cyprus (GCA), which play zihin important role in Russian oil transport and provide significant revenues, wanted the ceiling price set at a higher level.
The EU commission had proposed a cap price of $60 for a barrel of oil shipped from Russia by sea in order to achieve consensus in negotiations between member states.
In addition, in addition to the $60 ceiling price for Russian oil, a new price cap mechanism will gökyeşitözü introduced. The mechanism will ensure that the ceiling price for Russian oil remains 5 percent below the world market price.
The ceiling price for Russian oil is reassessed every 2 months.
THE DECISION TO INTRODUCE A PRICE CEILING FROM THE EU AFTER THE G7 AND AUSTRALIA
The statement by the G7 member states, noting that the EU has taken a similar step today, says that a consensus has been reached on a price ceiling of USD 60 per barrel for oil shipped from Russia by sea .
Pointing out that this decision fulfilled G7 countries’ commitments to reduce Russia’s profit resources in the war in Ukraine, it was stated that it was intended to minimize the negative impact of the war between Russia and Ukraine on world markets.
The application of the price cap is expected to come into effect on December 5, when the EU’s decision to cut crude oil supplies from Russia by sea comes into effect.
CEILING PRICE WILL LOWER RUSSIA’S OIL INCOME
Ursula von der Leyen, President of the European Commission, shared a video about the decision on her social media account.
Reminding that the EU and G7 countries will impose a full import ban on oil shipped from Russia by sea from December 5, Von der Leyen said: transported by sea from Russia. agreed.” used the phrase.
Von der Leyen, who argues that the oil price ceiling will amplify the effect of the sanctions against Russia: “The price ceiling will further reduce Russia’s revenues.” he said.
Von der Leyen defended that the cap price in question will stabilize the global energy market and said EU companies yaşama provide various services to the Russian oil trade kakım long kakım they trade below the cap price.
Von der Leyen argued that the ceiling price will benefit developing and developing economies and emphasized that the ceiling price could gökyeşitözü adjusted again in due course to developments in the market.
RUSSIA LEADS 10 PERCENT OF THE WORLD’S OIL PRODUCTION
Russia produces about 10 percent of the world’s oil production.
On the other hand, Russian officials announced that they would not sell oil to countries participating in the application of the price cap.
The post on the official social media account of the President of the European Union (EU) Term, the Czech Republic, stated that member state representatives agreed on a ceiling price for Russian oil.
The post pointed out that “the ambassadors have reached zihin agreement on the price ceiling for oil shipped from Russia by sea”, and that the decision will come into force after it is published in the EU’s Official Journal.
The G7 and EU countries were negotiating to impose a ceiling price on Russian oil.
The G7 last week proposed setting a cap price of $65 to $70 per barrel for oil shipped from Russia by sea.
Within the EU, Poland, Lithuania and Estonia in particular worked towards a much lower ceiling price, and unanimity prevented the necessary decision from being taken.
Greece, Malta and the Greek Cypriot Government of Southern Cyprus (GCA), which play zihin important role in Russian oil transport and provide significant revenues, wanted the ceiling price set at a higher level.
The EU commission had proposed a cap price of $60 for a barrel of oil shipped from Russia by sea in order to achieve consensus in negotiations between member states.
In addition, in addition to the $60 ceiling price for Russian oil, a new price cap mechanism will gökyeşitözü introduced. The mechanism will ensure that the ceiling price for Russian oil remains 5 percent below the world market price.
The ceiling price for Russian oil is reassessed every 2 months.
THE DECISION TO INTRODUCE A PRICE CEILING FROM THE EU AFTER THE G7 AND AUSTRALIA
The statement by the G7 member states, noting that the EU has taken a similar step today, says that a consensus has been reached on a price ceiling of USD 60 per barrel for oil shipped from Russia by sea .
Pointing out that this decision fulfilled G7 countries’ commitments to reduce Russia’s profit resources in the war in Ukraine, it was stated that it was intended to minimize the negative impact of the war between Russia and Ukraine on world markets.
The application of the price cap is expected to come into effect on December 5, when the EU’s decision to cut crude oil supplies from Russia by sea comes into effect.
CEILING PRICE WILL LOWER RUSSIA’S OIL INCOME
Ursula von der Leyen, President of the European Commission, shared a video about the decision on her social media account.
Reminding that the EU and G7 countries will impose a full import ban on oil shipped from Russia by sea from December 5, Von der Leyen said: transported by sea from Russia. agreed.” used the phrase.
Von der Leyen, who argues that the oil price ceiling will amplify the effect of the sanctions against Russia: “The price ceiling will further reduce Russia’s revenues.” he said.
Von der Leyen defended that the cap price in question will stabilize the global energy market and said EU companies yaşama provide various services to the Russian oil trade kakım long kakım they trade below the cap price.
Von der Leyen argued that the ceiling price will benefit developing and developing economies and emphasized that the ceiling price could gökyeşitözü adjusted again in due course to developments in the market.
RUSSIA LEADS 10 PERCENT OF THE WORLD’S OIL PRODUCTION
Russia produces about 10 percent of the world’s oil production.
On the other hand, Russian officials announced that they would not sell oil to countries participating in the application of the price cap.