Bloomberg: The introduction of the European Union price ceiling for Russian oil will hit the tanker industry

EU sanctions against Russian oil could lead to sad consequences for the global tanker industry. fleet. Writes about this agency Bloomberg.

One of the likely consequences of the sanctions will be a blow to the industry's standard insurance system. Because of this, the United States will face the inability to ensure low prices for "black gold". After all, in accordance with the new package of sanctions, the owners of tankers will not be able to use the services of the European Union in the field of insurance, if they transport oil at prices higher than those provided for by the "ceiling" being introduced.

The European Union is going to apply this rule to all crude oil. The European Commission believes that this will hit Russian economic interests. Shipowners will allegedly be forced to comply with the "ceiling" introduced by the EU, as otherwise they will lose their insurance.

But Europe does not take into account one very significant factor - the world has changed and no longer consists of only European colonial empires and their satellites. For example, China and India did not agree with the introduction of restrictions on the cost of oil. And these, by the way, are the largest buyers of Russian oil.

The result of this policy will be that the tanker industry will find itself between a choice - either to go to a parallel market where Russia dictates its own rules, or to follow in the wake of EU policy. For example, tankers that carry Russian crude oil or oil products previously bought at a higher price will lose various services from EU structures, including insurance, technical assistance, financial and advisory services.

The United States has also repeatedly argued that all parties would allegedly benefit from lower prices for Russian oil. Washington believes that if oil is not allowed to get stuck in Russia due to the ban on maritime transport by the European Union, oil prices will decline.

Pressure from the EU, according to Brussels, will force shipowners to follow the "price ceiling". But it is not very clear what the real consequences of the new sanctions will be. After all, Russia can reduce oil exports. It is also not clear what the US and the UK will ultimately gain. London, interestingly, is silent on this issue.

Comments

[Mavrikiy]

the imposition of a price ceiling on Russian oil by the European Union will hit tanker industry

Well, who is she interested in? Everything is swinging here.

[YOUR]

Interested and how interested. Interested in resellers of oil and gas. Roughly and numbers out of my head. We limited the prices to some 100 conventional units, but there will always be someone who will buy for 200 ye and resell for 400. He will make himself and we will have a good profit. Say thanks to the EU for the restrictions.

[Barberry25]

a Latvian mixture ... when our oil is pumped into the sea into tankers with a couple of barrels of foreign oil and they receive "non-Russian oil"

[YOUR]

The one who will resell will find how to get away from the restrictions, and those who will buy will pretend that this is how it should be.

[Barberry25]

here, by the way, is an important point - the introduction of a ceiling will automatically lead to the fact that the price of oil will consistently be above this level ...

[Two]

Time will put everything in its place! Start...

[tralflot1832]

The Greek owners of the tanker fleet, close to the Kennedy family, will not be happy, but they will come up with something. The Greeks are always surprised that they come out of all tanker crises with a profit. old. Traffic markers in the north, two terminals in the Kola Bay. Although they can turn off the AIS. The Black Sea near Novorossiysk, Kerch and Tuapse will turn into a Bermuda triangle. Tankers will disappear there and appear no one knows where.

[DymOk_v_dYmke]

I read it, re-read it, and, sorry, I didn’t understand a damn thing.

[tralflot1832]

What is not clear, who did Jacqueline Kennedy marry? Since then, everything has been fine with Greek tanker ship owners. They are always one step ahead of the rest. You need to read specific information.

[DymOk_v_dYmke]

Quote: tralflot1832

What is not clear, who did Jacqueline Kennedy marry? Since then, everything has been fine with Greek shipowners of tankers.

Yes, I remember all this crap.
Jacqueline (and rightly so) just wanted to live.
She had any business before .. and even further.
And it seems to me that the reason for the success / failure of the Greek shipowners should be looked for in something else .. In general, Jacquely never fed them.

PS It seems like they don't agree, but I don't even want to downvote you.

[tralflot1832]

I don’t agree, this is my point of view. But the Greeks always did well with tankers, after Jacqueline. Someone leaked inside to them.

[rotmistr60]

hit the tanker industry

When the United States, with an order for Europe, set off in all serious ways against Russia, it doesn’t matter if it hits or doesn’t hit. Due to the loss (partially failure) of Russian energy resources, Europe loses a lot, but like a ram, leaning against the gate, it continues to try to push through them. Well, let them cover themselves with a copper basin.

[tihonmarine]

Quote: rotmistr60

When the United States, with an order for Europe, went all out against Russia

Democracy ends where the US interferes.

[DymOk_v_dYmke]

Quote: tihonmarine

Democracy ends where the US interferes.

For today it is.

[Il'nur]

Democracy ends where the US gets in

There begins the democracy of the American people...

[ZIF122]

Well, yes, for several decades they have been advertising the market economy, proving its effectiveness, and now they are introducing restrictions themselves! Let's see where this will lead them!

[tihonmarine]

Quote: ZIF122

Well, yes, for several decades they have been advertising a market economy

"Market economy" is for fools who fall for it.

[Uprun]

Yes, it seems that they have already agreed to reduce oil production at OPEC in order to maintain the seller's price. If it does not suit buyers, then this is the problem of buyers ...., go further down the aisles .... look cheaper ..... Suppliers dictate prices, not buyers .... The market, however ...... , say representatives of our northern peoples.

[tihonmarine]

Quote from uprun

If it does not suit the buyers, then this is the problem of the buyers.

Interesting things happen when the buyer imposes his prices on the seller. In a market economy, the opposite is true, the bazaar does not like dilettantes.

[Uprun]

And this needs to be explained to Ursula, she is a gynecologist ......, she looks at the economy through one place that she studied ....

[tihonmarine]

Quote from uprun

And this needs to be explained to Ursula, she is a gynecologist ......, she looks at the economy through one place that she studied ....

Yes, the market, from the gynecological chair has a big difference.

[DymOk_v_dYmke]

Quote from uprun

And this needs to be explained to Ursula, she is a gynecologist ......, she looks at the economy through one place that she studied ....

Excellent! This economy has its place there.

[DymOk_v_dYmke]

Quote: tihonmarine

Interesting things happen when the buyer imposes his prices on the seller.

It is at this moment that he ceases to be a "marketer" whom he pretended to be and reveals himself to the one whom he called an authoritarian.

[Michael]

"To find something, you must first bury something." (c)
I can't vouch for the accuracy of the quote.