“The introduction of a price ceiling by Western countries will affect those companies that insure, deal with the logistics of Russian oil,” RIA Novosti quotes Jafarli.

According to him, the main buyers of oil from Russia are China and India.

He noted that taking into account the dynamics of prices in recent weeks, Russia does not lose anything.

The expert said that pipeline oil entering the EU is on the sidelines of sanctions, therefore, the decree of Russian President Vladimir Putin is insurance for domestic players who could sell oil to those countries that set the price ceiling in detours.

“The tightening of control over the sale of Russian oil to those countries that have joined the sanctions and the price ceiling will be very tangible,” Jafarli added.

On December 27, Putin signed a decree retaliating against the imposition by the United States and other countries of a price ceiling on Russian oil.

Earlier, Igor Yushkov, a leading expert of the National Energy Security Fund and the Financial University under the Government of Russia, commented on the situation on the oil market in an interview with Economics Today.