Euromaidan Press

News and Opinion from Ukraine and Europe on Military and Political Developments.

http://euromaidanpress.com/

The price Cap Policy on Russian oil can work only if the price cap is lowered to USD35 instead of current USD60 — Ukraine’s Minister of Economy.

The new Price Cap Policy mechanism has significant potential but price restrictions for Russia must be revised downwards, Ukraine’s Minister of Economy Yulia Svyrydenko said.

“ The sanctions coalition once again demonstrated unity and developed a mechanism that has a significant potential to increase pressure on the aggressor state. This is an absolute plus…” she said. “However, there is a downside to the adopted decisions. This is a generally comfortable level of price restrictions for Russia, which will minimally affect Russia’s oil revenues if compared with previous years. And, accordingly, it will minimally affect the ability and desire of the Russian Federation to finance the war in the future. Therefore, Ukraine will work to ensure that the level of price restrictions is revised downwards by our allies as soon as possible. The optimal level that will really hit Russia’s oil revenues is $30-$35 per barrel. “

The minister also said that after testing in practice, the Price Cap Policy mechanism can be used not only for oil but also for gas, discussions about which are already ongoing.

On December 5, 2022, the EU and UK introduced a ban on oil imports from Russia. Simultaneously, a coalition of G7, Australia, and the EU introduced the Price Cap Policy for the maritime transportation of Russian crude oil and petroleum products by their companies to third countries. Also, according to the decision of the European Union, the import of oil products from the Russian Federation will be prohibited from February 5.

Ukraine needs independent journalism. And we need you. Join our community on Patreon and help us better connect Ukraine to the world. We’ll use your contribution to attract new authors, upgrade our website, and optimize its SEO. For as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

What is behind the new creative trend?
Останні новини
Moment Iranian military factory blows up in flames after drone attack.

Moment Iranian military factory blows up in flames after drone attack.

A loud explosion struck a military industry factory near the central Iranian city of Isfahan overnight in what Tehran said on Sunday (January 29) was a drone strike by unidentified attackers. There was no immediate claim of responsibility for the ...

Rep. McCaul: I haven’t seen anything like this ‘since WWII’

Rep. McCaul: I haven’t seen anything like this ‘since WWII’

Rep. Michael McCaul, R-Texas, discusses the future of the U.S.’s relationship with China along with the economic implications of the debt ceiling conflict on ‘Fox News Sunday.’ #foxnews Subscribe to Fox News! Watch more Fox News Video: Watch Fox N...

Drone Footage Shows Train Derailed by New Zealand Floods - VOA News.

Drone Footage Shows Train Derailed by New Zealand Floods - VOA News.

Drone footage from January 29, 2023, showed flooded fields and a derailed train in Te Puke, New Zealand, as more heavy rain lashed parts of New Zealand. The death toll rose to four as flash floods and landslides on the north island continued for a...

WATCH: Tyre Nichols video release sparks protests across U.

WATCH: Tyre Nichols video release sparks protests across U.

Video shows protests in Memphis, New York City, Boston and Atlanta following the release of body camera footage that shows the traffic stop beating that allegedly lead to Tyre Nichols' death. » Subscribe to NBC News: » Watch more NBC video: NBC Ne...

Baltimore shooting leaves one man dead and a toddler injured.

Baltimore shooting leaves one man dead and a toddler injured.

Baltimore police say a gunman opened fire, killing one person and injuring four, including a two-year-old. Police are still investigating who was the intended target and if there were multiple shooters. WBAL's Tommie Clark reports. » Subscribe to ...

Jordan: ‘No amount of training is going to change what we saw in that video’.

Jordan: ‘No amount of training is going to change what we saw in that video’.

“These five individuals did not have any respect for life. … But I don’t know that there’s anything you can do to stop the kind of evil we saw in that video,” House Judiciary Chair Jim Jordan (R-Ohio) said about the police beating death of Tyre Ni...