2024-02-29 04:55:12
The United States plans to tighten the price ceiling for Russian oil, as stated by First Deputy Finance Minister Wally Adeyemo during his speech at the Council on Foreign Relations, Day.Az reports with reference to Prime.
“First, we are introducing measures against the most profitable source of income – energy. <...> Today we will introduce additional restrictions regarding the price ceiling, which will increase Russia’s costs of bypassing (this measure), and also strengthen our policy, which is aimed at reducing the Kremlin’s revenues while at the same time allowing oil to enter the market,” the politician said.
However, Adeyemo did not mention what kind of sanctions he was talking about, since among the restrictions previously announced by the United States there were no measures regarding the price of oil. According to him, “the Kremlin is spending time and resources to circumvent the price ceiling,” and also that “largely due to the price ceiling <...> Russia’s government revenues from energy fell by about 40% in 2023.”
Previously, the United States imposed more than 500 new sanctions against Russia. It was reported that this time the restrictions would affect the financial sector, the military-industrial complex, as well as procurement networks that allegedly help circumvent sanctions and are associated with Navalny’s imprisonment.
Against the background of Russia’s launch of a special operation on the territory of Ukraine, the West has increased sanctions pressure on it. One of the restrictions was price ceilings for some Russian energy resources. As the Russian authorities have repeatedly emphasized, the domestic economy has adapted to the restrictions. However, the sanctions hit Europe and the United States – the countries that themselves introduced them. Thus, in the West, prices for fuel and food have increased, inflation has accelerated and the unemployment rate has risen.