The United States and the European Union have set a ceiling on prices for Russian oil

DW: The United States and the European Union have set the price ceiling for Russian oil transported by sea at $ 60 per barrel, American and European diplomats said on Thursday, December 1. A mechanism for adapting the ceiling of the maximum price has also been agreed - it is supposed to be kept at the level of five percent below the market value.

Poland is unhappy with this decision. She considers this ceiling too high and during the negotiations demanded to limit the maximum price to $ 30 per barrel. According to reports, the decision on the price ceiling for Russian oil can be made in writing as early as December 2. In this case, the oil embargo against the Russian Federation will come into force on December 5.

The price ceiling is set only by the United States and the European Union, but in fact other countries will not be able to buy Russian oil above the ceiling, since tankers will be impossible to insure from the world's largest insurers and Russian oil will not be able to transport the world's largest tanker fleet of Greece.

Russia threatens not to sell oil at below market price

Last week, tanker oil of the most popular Russian brand Urals cost about $ 55 per barrel. This means that Russia could trade its oil without restrictions even with the ceiling currently agreed upon. However, the authors of the initiative hope that the adoption of a mechanism for determining the upper limit will quickly adjust the restrictive price.

Russia has already stated that it does not intend to sell oil at a price below the market. At the same time, experts believe that the price slightly below the market will force such major buyers of Russian tanker oil as China and India to comply with the restrictions.