For this purpose it was proposed to set marginal prices for Russian oil. And, as it became known in early September, the countries of the Great Seven still have agreed on the implementation of this plan. Video Day The idea is that setting price restrictions below the market price, but above the cost, will retain Russian oil in the world markets, but at the same time the Kremlin's income from its sale, and thus weaken the Russian economy and its ability to finance war .
The adoption of a new initiative indicates that the previous energy sanctions have not worked, the British magazine The Economist notes. The US has already abandoned oil from the Russian Federation, and the European Union follows their example in early December. But now, Russian oil exports have fallen slightly: from 8 million barrels a day (b/d) in January to 7. 4 million bp in July, they are calculated at the International Energy Agency (IEA).
Exports to America, the United Kingdom, the EU, Japan and South Korea have decreased by 2. 2 million b/d, but two -thirds of this volume were redirected to other countries. The largest buyers of Russian oil are India and China.
Following the introduction of the G7 price restrictions, which should take place in early December this year, it is expected that Western companies for the purchase, resale, transportation and insurance of oil will refuse to deal with Russian black gold, more expensive than the set limit. However, Russia can try to export its oil through non -watery networks, reflects The Economist.
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