The European Union has prescribed a new ceiling for Russian oil

In the new 18th package of sanctions against Russia, the European Union has set a new ceiling on the price of its oil - a floating limit.

July 18 The EU has approved a new package of sanctions against Russia and will lower the ceiling for Russian oil for third countries. According to Reuters, it will be $ 47.6 instead of the current $ 60 per barrel. The limit will be floating and will depend on the quotations of reference grades of oil to which the price of the Russian Urals is tied.

"In reality, it doesn't matter what the price ceiling is. It is important whether it exists or not. $60, $ 40-70, $45 — if there was no ceiling, it would be possible to use other vessels besides the shadow fleet, and then the cost of transporting Russian oil would be lower. But since it exists, we will be able to export all our oil exclusively by the shadow fleet. Therefore, I think that there will be no effect, the fleet is enough to export all volumes," Igor Yushkov, a leading analyst at the National Economic Development Fund and an expert at the Financial University under the Government of Russia, told EADaily the day before.

The cost of Russian oil exceeds the ceiling set by the EU and is around $ 60 per barrel. The new limit threatens that the tankers of the countries The EU and Western insurance companies cannot service the delivery of Russian oil if the ceiling is exceeded. The share of tankers of Greece, Malta and Cyprus in transportation is 10-20%. Their loss will increase shipping costs, but will increase the costs of Russian suppliers.

The United States did not support the new ceiling for Russian oil and so far it is limited by the decision of the EU countries.