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Attempts by the United States and other countries to impose price restrictions on Russian oil products may lead to unexpected consequences. It is reported by Reuters with reference to US Treasury Secretary Janet Yellen.
There is always the possibility that things will not go according to plan, she said, but Washington has carefully studied these markets and intends to come out with a set of restrictions that will achieve the same thing that was achieved with crude oil.
Yellen added that it will be more difficult to impose price restrictions on petroleum products from the Russian Federation than on crude oil.
At the same time, she pointed out, although the first restriction on oil prices came into force only on December 5, it turned out to be successful. “They have expressed concerns about revenues and we haven’t seen any sign that Russia is holding oil on the market,” she said.
Recall that the G7 countries, the EU and Australia, from December 5, 2022, introduced a price ceiling for Russian oil delivered by sea at the level of $60 per barrel for their vessels and territories. In addition, from February 5, 2023, marginal prices for petroleum products will come into effect, the parameters of which will be set later.
Source: Rosbalt
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