9:06 a.m .: The cap on the price of Russian oil, a limited impact?
While EU and G7 countries and Australia have agreed to no longer buy Russian oil above $60 a barrel, the impact of this decision could be limited. Russia, the world’s second crude exporter which had already reduced its sales to the West, had for its part warned that it would no longer deliver oil to countries which would adopt this cap.
Without this ceiling, it would be easy for him to find new buyers at the market price. The price of a barrel of Russian oil (crude from the Urals) is currently fluctuating around 65 dollars, barely above the European ceiling. “We will be ready to review and adjust the maximum price if necessary”, assure G7 and Australia in their press release.