The permanent representatives of the EU countries hardly agreed on the eighth package of anti-Russian sanctions
The American publication Politico, citing informed sources, reported that the permanent representatives of the EU member states managed, after a long debate, to agree on a framework document for the introduction of the eighth package of anti-Russian sanctions. The discussion ended yesterday, today the agreement was approved by the Committee of Permanent Representatives of the EU countries.
The main stumbling block in recent times has been a measure initiated by the European Commission to set a price ceiling for Russian oil and oil products. Representatives of Hungary, Cyprus, Greece and Malta opposed such a measure. Later, these countries withdrew their objections, but Hungary achieved the abandonment of price restrictions on pipeline oil from Russia (the country receives fuel through the Druzhba pipeline), and in the event of an emergency, also on sea transportation. Southern port countries fear a decline in tanker traffic if Moscow refuses to comply with the EU requirement. What they offered as compensation is unknown.
The Czech Delegation to the EU on its Twitter account said that the new sanctions include "a ban on the transportation of Russian oil by sea to third countries at a price exceeding the limit, as well as related services."
Earlier, members of the G7 club spoke out for limiting the price of Russian oil transported by sea tankers. It is assumed that the restrictive measure will be introduced in two stages. There are no other details on how the mechanism for monitoring compliance with the price ceiling by importers from countries outside the EU and the G7 club will work yet.
Experts suggest that the price limit for Russian hydrocarbons will be set at a discount to the benchmark Brent. According to the authors of the restrictive measures, the artificially set price should cover Russia's costs for the extraction and transportation of raw materials, but at the same time be significantly lower than the global price. This, it seems, should stabilize the rise in energy prices on the international market.
Analysts predicted that as a result of new sanctions, the EU will lose about 30-40 million tons of oil per quarter, or more than 25% of all maritime imports, which will be very critical for already experiencing serious problems for European enterprises, especially Germany.
In addition, Moscow, most likely, will not supply energy carriers under unprofitable contracts to Western countries. If today the OPEC+ countries also decide on a significant reduction in oil production, then the plans of the EU and the GXNUMX to stabilize prices will turn into a complete failure.
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