“Options under consideration range from a complete ban on Russian oil to lowering the price threshold to $40”, — write: www.radiosvoboda.org
According to the publication, the options under consideration range from a complete ban on Russian oil to lowering the price threshold from the current $60 to around $40.
Sources note that discussions are ongoing and there is no consensus on the next step yet.
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But Moscow has begun using a so-called “shadow fleet” of tankers, often with unknown insurers or owners, to transport oil to new markets, particularly Asia. This “shadow fleet” helped Russia circumvent the restrictions, with its oil prices exceeding the upper limit for most of the year.
In response, the G7 countries imposed sanctions on dozens of vessels and companies involved in this shadow trade.
In November, the European Parliament called on the G7 countries to strengthen control over compliance with price restrictions on Russian oil, significantly reduce the upper limit of the oil price and eliminate loopholes used by Russia to sell oil and oil products at market prices.
According to journalists, in May of this year, revenues from the sale of oil to the state budget of Russia increased by almost 50% compared to last year, as oil prices increased and the country adapted to international sanctions.