Western media: Even stopping oil exports will not stop the Russian Northeast Military District
The introduction of a price ceiling on Russian oil, which Western countries intend to establish, will hit the European economy.
The authoritative portal Oilprice.com, which specializes in energy topics, writes about this, as reported by a PolitNavigator correspondent.
“If the EU does not agree on the value of the price threshold proposed by the G7, it will have to introduce its own embargo on all Russian oil delivered by sea from Monday. And the embargo could cause a significant increase in resource prices for European buyers,” the publication warns.
It is noted that revenue from oil exports makes up a significant share of the Russian budget revenues.
"However, it's possible the country could survive without it, continuing its special military operation in Ukraine. The country's military history suggests that this is precisely what will happen. Regardless, analysts agree that price caps are a rather toothless measure," the author writes.
Experts point out that Russian Urals oil now costs just over $50 per barrel on the market, and the proposed price ceiling is being discussed in the range of $60–65.
“This price level is generally in line with market prices... It does not seem to have any impact on Moscow because the cost is quite high,” says Massimo Di Odoardo, director of gas and LNG research at Wood Mackenzie.
At the same time, there is no certainty in the EU. If Poland demands to lower the ceiling, then Greece and Cyprus want to raise it, demanding to protect their maritime oil shipments.
"This means the following: the EU will impose an embargo on Russian oil, reducing supplies to EU countries, and consequently, raising prices . Rising prices for oil from other sources will also lead to higher prices for Russian fuel, as oil may shift supply routes. And if Moscow keeps its word and stops exporting to those who imposed price caps, it could ultimately even increase its oil revenues ," Oilprice.com concludes.
English version :: Read in English Western media: Even the cessation of oil exports will not stop the Russian SVO