Ukrainian President Volodymyr Zelensky criticized the Western powers' decision to set a ceiling for Russian seaborne oil prices at $60 a barrel, describing it as weak and not serious in putting pressure on Russian treasury revenues.

Ukrainian President Zelensky said - yesterday, Saturday - that setting a price ceiling at $60 a barrel instead of $30 as proposed by Poland and the Baltic countries, would add about $100 billion to Russia annually.

And the Ukrainian president said in his usual speech every night: "For this ceiling to be set for Russian prices is not a serious decision, as this matter is completely convenient for the terrorist state's budget."

Zelensky said that this money will not only be used for war, but will also be used to destabilize countries that have avoided taking a serious decision in this regard.

And Kyiv had welcomed earlier yesterday, Saturday, the decision of the European Union, Australia and the Group of Seven. Lower (the price ceiling) to $30 to destroy it faster."

The content of the decision

The European Union system is supposed to prevent companies from providing services that allow marine transportation (freight, insurance, etc.) for Russian oil if its price exceeds the maximum limit of $ 60 a barrel, in order to limit the revenues that Moscow earns from deliveries to countries that do not impose an embargo on Russian crude. Like China or India.

The price ceiling applied to Russian oil is to be reassessed every two months.


Zelensky's criticism of the decision to set a ceiling for Russian crude prices came hours after the European Union, the Group of Seven and Australia agreed on a ceiling for Russian oil prices, and this decision is likely to enter into force on Monday.

The G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) and Australia considered that the decision aims to curb Russia's resources and reduce the negative impact of its war on Ukraine on global markets.

Washington and Moscow

For her part, US Treasury Secretary Janet Yellen welcomed the announcement by the Group of Seven, the European Union and Australia of a ceiling for the price of Russian seaborne oil, and said that the decision would help restrict the source of income for Russian President Vladimir Putin for his war in Ukraine, while maintaining the stability of global energy supplies.

Secretary Yellen said in a statement that price caps are designed to help protect consumers and businesses from global supply disruptions.

On the other hand, the Kremlin said - yesterday, Saturday - that Moscow will not accept the price ceiling imposed by the European Union, the Group of Seven and Australia on Russia's oil exports, and Kremlin spokesman Dmitry Peskov told reporters, "We are currently analyzing the situation. Of course, preparations have been made and prepared to confront this ceiling.

"After a quick analysis, there will be a decision on how to organize the work later," Peskov added.