Biden allowed the continuation of purchases of Russian oil at prices below the market

According to Biden, due to a sharp increase in US fuel pricestogether with allies are considering the possibility of not completely abandoning Russian oil,but buy it at a price below the market

The United States is discussing with allies the possibility of buying Russian oil at below market prices instead of not importing it. This was stated by US President Joe Biden , the broadcast was hosted by Fox News.

According to him, Washington, along with allies in Europe, is looking for options to contain fuel prices, which are rising amid the conflict in Ukraine and anti-Russian sanctions.

“You have a problem that has emerged now that Europe plans to further restrict purchases of Russian oil. There are active reflections on what can be done - maybe even buy oil , but at a limited price, ”Biden said.

If such a decision is made, then Russia , he said, will retain the ability to export oil, but at a "price significantly lower than that which is now established on the market."

FT learned about EU plans to impose duties on Russian oil because of Hungary Politics

On May 30, EU members agreed on the sixth package of sanctions against Russia. The countries agreed to introduce a partial oil embargo, which will affect the supply of Russian oil by sea. According to Bloomberg sources, first - by 2023 - the EU plans to abandon the sea supply of raw materials, and after the interests of a number of landlocked countries are satisfied, it will expand the embargo on pipeline supplies.

According to the head of the European Commission, Ursula von der Leyen, thanks to the embargo, Russian oil supplies to the EU will be reduced by about 90% by the end of the year. The remaining 10% will continue to go along the southern branch of the Druzhba pipeline, including to Hungary, which was temporarily released from the embargo.

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The United States imposed an embargo on oil and gas supplies from Russia in early March. In announcing this, Biden expressed his understanding that such a decision would lead to an increase in gasoline prices in the United States, but also the need to "put pressure" on the Russian leader. A day after the embargo was announced, gasoline prices in the United States overcame an all-time high and exceeded $4.17 per gallon. To date, the price of gasoline in the US is $4.67, diesel - $5.53.

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The Kremlin assumed that if the EU refused to purchase Russian oil, then Russia would compensate for these volumes with sales in the east. Against the background of the embargo agreement, the price of the August futures for Brent oil exceeded $119 per barrel. Russian Deputy Prime Minister Alexander Novak warned that if the embargo was adopted, it could soar even higher - up to $300 per barrel.

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