The price ceiling on Russian oil introduced by Western countries has proven to be ineffective, says Anatoly Aksakov, head of the State Duma Committee on the Financial Market. The US State Department announced a possible lowering of the price ceiling for Russian oil the day before.
However, with such statements, the American authorities “strive more to create a media effect than a real one,” says Igor Yushkov, a leading analyst at the National Energy Security Fund. “Their task is to increase oil export costs for Russia, but not to go too far. Otherwise, we will reduce supplies, which will lead to shortages on the world market and higher prices for Western countries themselves, while Russia will still earn about the same,’ he says.