EU ambassadors will propose to the European Commission on the afternoon of September 28 to impose an oil price cap and other sanctions , Politico Playbook reports.
At the same time, in accordance with the agreement, the EU will offer to ease its sanctions on other goods, effectively lifting the ban on the supply of Russian fertilizers and cement, officials tell Playbook. “This is do ut des,” one of the officials said (a formula of Roman law, in fact, means “you to me - I to you.” -).
New restrictions from the EU will mean that shipping and insurance companies will be prohibited from transporting or insuring Russian oil if the price at which it is sold exceeds the established limit. This cap will be the price at which Russian oil is currently sold in Asia, which is about 30% cheaper than current oil prices in Europe.
Orban called for a frank conversation with the United States on the lifting of sanctions against RUSSIA Politics
Similar sanctions will be imposed by EU allies, including the UK, where most tankers are insured. The idea is that other countries such as CHINA and India, even if they do not impose similar sanctions themselves, have no incentive to pay more for Russian oil.
Also, according to the interlocutors of Politico Playbook, the issue of the attitude towards sanctions from Cyprus, Malta and Greece, which for a long time did not support restrictions on tankers, as they earn on the transportation of Russian oil, has been resolved. Now, these countries have previously agreed on restrictions on the condition that they receive compensation for losses, the sources said.
Western countries started discussing limits on Russia's income from energy exports at the beginning of the military operation in Ukraine. In early September, the ministers of the G7 countries (Great Britain, Germany, Italy, CANADA, France, Japan and the United States) agreed to introduce a price ceiling for Russian oil.
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REUTERS reported last week that the EU intends to accelerate the introduction of a new package of anti-Russian sanctions due to partial mobilization in Russia, referendums in the DPR, LPR and Kherson and Zaporozhye regions, as well as because of the "nuclear rhetoric" of Russian President Vladimir Putin . On the morning of September 21, announcing the beginning of a partial mobilization in Russia, the President recalled that Moscow possesses nuclear weapons and intends to use all means to protect itself.
The fact that this causes concern in European countries and encourages them to introduce a new package of sanctions as soon as possible was also reported by BLOOMBERG. Later, the interlocutors of the agency reported that Cyprus and Hungary objected to the proposal to impose cap prices on Russian oil, which is why the introduction of a "price ceiling" is being hampered. Among other proposals for sanctions, Bloomberg's interlocutors called control over the import of diamonds and a ban on certain types of steel products.
Russian Deputy Prime Minister Alexander Novak said that if a price ceiling were introduced, Russia would not supply oil. The same opinion was expressed by Russian President Vladimir Putin . He stated that Moscow would not supply gas, oil, or coal if Europe made political decisions that contradicted the concluded contracts.