Scaling of Fuel Sanctions

by Olha Povaliaieva
Sunday, January 22, 2023
Scaling of Fuel Sanctions

European Union and G7 countries to set caps for all Russian oil products

The US treasury department reported that the price of petroleum products from the Russian Federation will continue to be limited. Recall that now the aggressor can not sell 1 barrel of fuel for more than $60. Such a restriction was accepted in connection with the Kremlin’s actions in the neighbouring state.

However, now the G7 and members of the European Union have decided to introduce 2 marginal costs for Russian oil products. One of the restrictions will be imposed on aggressor products, which are sold at a premium. This group includes diesel fuel and gas oil. The second cap price will be imposed on products that are already sold at a discount. Most often it is fuel oil.

It should be noted that in early spring the representatives of the countries that took the path of limiting Russia’s military capabilities and revenues with the help of depreciation, revenues from oil exports will meet again. Countries will discuss new prices for petroleum products.

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