Oil War is not in force: how sanctions are heated the price for "black gold" of the Russian Federation

At the same time, the world guide for prices - the Brent oil brand, is traded at $ 78. 57. At the same time, the Russian oil of the brand is named after the pipeline from Eastern Siberia, is traded slightly above the established boundary. Analysts believe that the key driver of prices was the loss of the European market, as Russia was in the power of too small a pool of large buyers, especially China and India.

And since tankers have to overcome thousands of miles to deliver goods from western ports to these buyers, the cost of freight has increased sharply. This forced to sell barrels at a discount to compete with deliveries from the Middle East. The consequence of the Kremlin aggression against Ukraine also touched on Russia itself. For example, the Russians have already been left without part of their well -being, which some people have been collecting for years.

And the situation is only deteriorating. In addition, millions of Russians who were investing in the stock market have brought their money and look at brokers in an increasingly negative way now when prices have fallen. From December 5, 2022, an oil embargo has been operating for Russian oil supply to Europe. The price of oil from the Russian Federation was limited to about $ 60 per barrel.

This means that the EU countries, the United Kingdom, the USA, Canada, Japan and Australia provide services related to Russian tanker oil only if it has been bought at a marginal price or lower. From February 5, 2023, the purchase of Russian oil products will also be prohibited. It was also reported that due to international sanctions, raw oil supplies from Russia have fallen to the lowest level for 2022.