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2025-07-19 Economy
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London follows EU in lowering Russian oil price ceiling to $47.6 per barrel
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Direct Translation via Google Translate. Edited.
[Regnum] Following the European Union (EU), Great Britain lowered the price ceiling for Russian oil from $60 to $47.6 per barrel. This was reported on July 18 by Reuters.
“The eighteenth package of EU sanctions against Russia includes a reduction in the price ceiling for crude oil to approximately $47.6 per barrel,” the publication says.
Earlier, the EU Council announced that, as part of the new package of anti-Russian sanctions, Brussels is introducing an automatic mechanism to change the ceiling on the price of Russian oil and reducing its maximum price from $60 to $47.6 per barrel. In addition, the EU has imposed a complete ban on operations with the Nord Stream and Nord Stream 2 gas pipelines, including the supply of goods and services.
On July 18, the permanent representatives of the EU countries agreed on the 18th package of anti-Russian sanctions. It will include restrictions on banks, as well as 105 vessels allegedly involved in the transportation of Russian oil. An oil refinery from India was also added to the list.
State Duma deputy Alexey Chepa said that Russia could take a number of steps in response to the 18th package of sanctions, which could significantly affect the economy of the European Union. The deputy also allowed for the possibility of new strikes on military facilities and infrastructure in Ukraine, emphasizing that in this case the effect of the new package of sanctions would be the opposite of what was expected.
Political scientist and specialist in interethnic conflicts Evgeny Mikhailov, in a conversation with the Regnum news agency, previously stated that for Russia this sanctions package will not change anything in a global sense, but Europe is thus driving itself even further into a corner.
More from regnum.ru
The West has revealed how Trump's sanctions will affect oil prices
The introduction of 100% duties on goods from the Russian Federation, the possibility of which was previously admitted by US President Donald Trump, would lead to a sharp increase in world oil prices. This was reported on July 17 by the CNN television channel, citing sources.
"World oil prices could rise sharply if Russia suddenly stops exporting more than 7 million barrels of oil a day," the article says.
The authors noted that the introduction of duties would have a negative impact on the situation in the two largest Asian markets - India and China, where they would begin to look for alternative supplies to avoid paying duties.
Using such restrictions to prevent other countries from buying Russian oil would be a "crude instrument of pressure" and could provoke "even greater chaos in the rest of the world," the report added.
On July 14, Trump said he was "very unhappy with Russia's actions" and threatened to impose secondary sanctions of 100% on goods from Russia if Moscow did not reach a peace agreement with Kiev within the next 50 days. He also expressed confidence that the arms supplies to Ukraine agreed upon with the EU would speed up the process of concluding a peace agreement.
As reported by the Regnum news agency, Russian Foreign Minister Sergey Lavrov previously stated: Moscow wants to understand what is behind the US President's statement about "50 days". Russian President Vladimir Putin called for not being afraid of new sanctions and preparing for any developments. He repeatedly noted that the West wanted to weaken Russia with sanctions, but the restrictive measures had the opposite effect. The Russian leader emphasized the important stimulating role of Western sanctions for the development of the Russian economy.
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Posted by badanov 2025-07-19 00:00||
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