Bloomberg: The U.S. will review the price restrictions on Russian oil. They will be softer

Kostia Andreikovets

Due to the skepticism of investors and the growth of risks in the financial markets, the USA is forced to reconsider the introduction of price restrictions on Russian oil.

Bloomberg writes about it.

It was planned to set the limit price at the level of $40-60 per barrel with a tendency to a lower limit. However, officials are now discussing a higher price. Almost everyone understands that this will allow Russia to continue to receive significant income from the sale of oil.

The final decision has not yet been agreed upon.

The publication writes that, most likely, the USA and the European Union will resort to softer restrictions and approve a higher price. At the same time, Russiaʼs major trading partners — India and China — will not impose any restrictive measures against the Russian Federation at all, although India has formally agreed to consider the G7ʼs proposal to limit prices.

  • On October 6, the European Union approved the eighth package of sanctions against Russia. It contains a ban on the import of Russian products worth €7 billion and a cap on oil prices. The EU also extended sanctions against individuals and Russian companies involved in illegal "referendums" on the territory of Ukraine.
  • At the beginning of September, the USA informed that the G7 countries would set a price limit for Russian oil by December 5. Countries want to see it at the level of $40-60 per barrel, which will seriously affect Russian revenues.