Novak saw in the EU decision the legalization of gray schemes for oil products

The exclusion of two types of Russian fuel from the oil price ceiling shows that oil products and Russian oil remain in demand in the EU countries. This opinion was expressed by Deputy Prime Minister of RUSSIA Alexander Novak, reports TASS.

According to Novak, a number of oil products were excluded from sanctions in order to legalize gray fuel supply schemes. The Deputy Prime Minister believes that the Russian oil industry will work stably, despite the introduction of an EU embargo on the supply of petroleum products.

The ban on the supply of Russian oil products to the EU began to operate on February 5. Two months earlier, on December 5, 2022, an embargo on Russian oil supplies came into force.

At the same time, the European Union and the G7 countries ( usa , CANADA, Great Britain, France, Germany, Italy and Japan) set a price ceiling for Russian oil supplied to third countries at $60 per barrel. On February 3, the countries agreed to set the maximum price for oil products from Russia at $100 per barrel (diesel fuel), and for products sold at a discount (fuel oil) at $45 per barrel.

On February 7, the European Commission clarified that the embargo on the supply of petroleum products from Russia and the price ceiling provided for by it do not apply to petroleum products that are produced from Russian oil abroad, as well as mixtures of Russian fuel with petroleum products from other countries, if they are mixed on the territory of third countries.