Russia does not accept the European oil price ceiling

According to the report of Fars News Agency’s International Economy correspondent, quoted by Rashatodi, Dmitry Peskov, Kremlin spokesman, announced that Moscow has no plans to recognize the price ceiling set for Russian oil by Western countries.

He said: The Russian government is currently reviewing the situation.

Recently, the Group of 7 countries and the European Union have reached an agreement to set the Russian oil price ceiling at $60 per barrel.

Peskov continued: We are analyzing the situation. Some preparations have already been made in this field. We do not accept this price ceiling. More information on how to deal with this issue will be released after the reviews.

Probably, the European Union will officially announce the agreement to determine the price ceiling for Russian oil today.

Based on the set price ceiling, no party has the right to provide insurance, tanker and financial services to oil shipments from Russia unless the purchased price of these shipments is at most $60 per barrel.

The European oil embargo against Russia will begin on December 5. In February of next year, more restrictions will be applied, including setting the price ceiling for other Russian oil products.

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