EconomyMedia: The price cap of Russian oil will hurt...

Media: The price cap of Russian oil will hurt not only Moscow, but also the EU


Oil pumps. archive photo

Global Times: Russia’s limit on oil prices only benefits Washington

MOSCOW, November 26 – RIA Novosti. The Chinese newspaper Global Times writes that a possible cap on oil prices by Russia would hurt both Moscow and Brussels and would only benefit Washington.

According to Li Haidong, a professor at the Institute of International Relations at the Chinese Foreign University, European countries debating a cap on Russian oil prices are becoming increasingly aware that the US is trying to persuade the EU to implement countermeasures against Russia to increase their profits. . and it benefits Washington. That’s why disputes over price restrictions in EU countries characterize the publication as “predictable”.

Li Haidong also believes that imposing a price cap on oil from the Russian Federation will not only harm the European Union, which is already facing an energy crisis, but will also cause chaos in the global energy market.

Earlier media reported that European diplomats planned to discuss this issue on Friday. Bloomberg later reported that EU diplomats delayed the negotiations.

At the same time, the Politico newspaper reported that most EU countries support the proposal to impose a ceiling on oil prices from the Russian Federation at the level of 65-70 dollars per barrel. At the same time, according to media reports, Poland does not accept a ceiling level of $65, stating that it is “too soft”, while Greece also does not want a limit level below $70 a barrel.

Commenting on the West’s idea of ​​limiting the prices of Russian energy resources, Russian President Vladimir Putin has repeatedly stated that he will not supply anything abroad if it is against Russia’s interests. Deputy Prime Minister Alexander Novak also said that Russia will only work under market conditions and will not supply oil to countries that apply ceiling prices, neither at 60 dollars per barrel nor at any other cost.

Source: Ria

I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.


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