https://sputnikglobe.com/20230821/apec-concerned-by-wests-anti-market-policies-russian-oil-price-cap---russian-envoy-1112747389.html
APEC Concerned by West's Anti-Market Policies, Russian Oil Price Cap - Russian Envoy
APEC Concerned by West's Anti-Market Policies, Russian Oil Price Cap - Russian Envoy
Sputnik International
Price cap on Russian oil was introduced in December 2022 as a part of Western sanctions against Moscow.
2023-08-21T04:55+0000
2023-08-21T04:55+0000
2023-08-21T04:55+0000
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Price cap on Russian oil was introduced in December 2022 as a part of Western sanctions against Moscow."The use of anti-market measures by Western countries toward Russia, including the so-called oil price cap, certainly causes concern," Berdyev said. They, together with an unprecedented number of illegal unilateral restrictions, short-sighted macroeconomic and unbalanced energy and climate policies of developed countries, have played a key role in destabilizing global energy markets, he stressed. "They led to the redistribution of global energy flows and increased transaction costs, provoked excessive price volatility and created serious risks to energy security," the envoy stated. However, contrary to the mantras about adherence to market mechanisms, he added, Westerners have resorted to illegal restrictions not for the first time - Today the tip is directed against Russia and others, and tomorrow it may turn against other objectionable states and cover not only energy carriers, but also other groups of goods. the envoy said. In December 2022, the G7 countries, Australia, and the EU imposed a price cap of $60 per barrel on Russian crude oil transported by sea, blocking the transport of oil bought at higher prices. In retaliation, Russia prohibited selling its oil to countries supporting the price cap mechanism. Berdyev spoke after High-ranking officials and ministers held meetings in Seattle where they addressed food security and energy matters among other issues as part of the third Asia-Pacific Economic Cooperation (APEC) Senior Officials’ and Ministerial Meetings. The APEC Economic Leaders’ Week will take place in San Francisco in November.
https://sputnikglobe.com/20230713/why-russias-urals-oil-price-is-rising-despite-g7-cap-and-decline-in-demand-1111861060.html
https://sputnikglobe.com/20230712/russian-crude-oil-on-verge-of-busting-western-sanctions-price-cap-1111833289.html
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apec, apec russia, oil prica cap, anti-russian sanctions, price cap on oil
apec, apec russia, oil prica cap, anti-russian sanctions, price cap on oil
APEC Concerned by West's Anti-Market Policies, Russian Oil Price Cap - Russian Envoy
SEATTLE (Sputnik) - Asia-Pacific Economic Cooperation (APEC) economies are concerned by the West's anti-market measures against Russia including the oil price ceiling, Russia's senior official for APEC Marat Berdyev told Sputnik.
Price cap on Russian oil was introduced in December 2022 as a part of Western sanctions against Moscow.
"The use of anti-market measures by Western countries toward Russia, including the so-called oil price cap, certainly causes concern," Berdyev said.
They, together with an unprecedented number of illegal unilateral restrictions, short-sighted macroeconomic and unbalanced energy and climate policies of developed countries, have played a key role in destabilizing global energy markets, he stressed.
"They led to the redistribution of global energy flows and increased transaction costs, provoked excessive price volatility and created serious risks to energy security," the envoy stated.
However, contrary to the mantras about adherence to market mechanisms, he added, Westerners have resorted to illegal restrictions not for the first time -
"It is enough to recall the examples of Iran, Venezuela, and Syria," he added. "Such a hypocritical policy undermines international trade and hurts the prospects for economic growth in the world."
Today the tip is directed against Russia and others, and tomorrow it may turn against other objectionable states and cover not only energy carriers, but also other groups of goods. the envoy said.
In December 2022, the G7 countries, Australia, and the EU imposed a
price cap of $60 per barrel on Russian crude oil transported by sea, blocking the transport of oil bought at higher prices. In retaliation, Russia prohibited selling its oil to countries supporting the price cap mechanism.
Berdyev spoke after High-ranking officials and ministers held meetings in Seattle where they addressed food security and energy matters among other issues as part of the third Asia-Pacific Economic Cooperation (APEC) Senior Officials’ and Ministerial Meetings. The APEC Economic Leaders’ Week will take place in San Francisco in November.
