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Saturday, December 2, 2023

What oil price ceiling will be a blow to the budget of the Russian Federation: expert’s assessment

In the EU, disputes continue over the limit on the price of oil from Russia. The level that will be a blow to the budget of the Russian Federation is $30-40 per barrel, writes RBC Ukraine.

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“The minimum acceptable option would be to limit the price to a maximum of $50 per barrel ,” said Yulia Pavitskaya, an analyst at the Kiev School of Economics (KSE). (Cafes and blackout: the turnover of catering establishments decreased by 8% in a week)

At the same time, she noted that setting a limit at $30-40 per barrel would really be a blow to the Russian budget.

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Recall that diplomats of the G7 (G7) and the European Union are discussing a cap of $65 to $70 per barrel to limit revenues to finance Moscow’s military offensive against Ukraine without disrupting global oil markets.

But on November 28, the EU governments failed to agree on a cap as Poland insisted that the cap be lower than the one proposed by the G7.

The price cap is due to come into effect on December 5, when the EU ban on Russian oil will also come into effect.

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