Russian oil: in Moscow, mixed reactions to the cap of the price of a barrel at 60 dollars

A cap of $60 a barrel will soon come into effect on maritime exports of Russian oil.

(Illustrative Image) Getty Images - US Coast Guard

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2 mins

It was in tune with the times, the countries of the European Union followed by the G7 finally agreed on Saturday.

A cap of 60 dollars per barrel will soon come into force on maritime exports of Russian oil in order to curb the contribution of hydrocarbons to the war effort in Ukraine.

In Moscow, we try to display serenity in the face of this new sanction.

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With our correspondent in Moscow

,

Julian Colling 

“

Russia has already prepared for this price cap

,” declared Kremlin spokesman Dmitri Peskov, without however specifying the nature of these measures.

Dmitry Peskov who also affirmed that Russia "

refused

" without surprise this ceiling fixed at 60 dollars per barrel.

In the process, the Russian ambassador to international organizations in Vienna, Mikhail Ulyanov, declared that this ceiling simply meant the end of deliveries, and a winter without Russian oil for Europe.

But above all, Moscow has a tangible element to reassure itself: a ceiling of 60 dollars is in fact barely less than the current price of a barrel of Urals crude, sold at around 65 dollars.

The short-term impact should therefore be put into perspective, for a Russian economy already accustomed to sanctions and which has dampened their shock wave better than expected.

►

To read: Russian oil: experts divided on the effectiveness of the Russian barrel price cap

A decision deemed too cautious for Zelensky

Ukrainian President Volodymyr Zelensky also strongly criticized Saturday evening a too cautious decision on the part of Europe.

He believes that this ceiling should have been placed at 30 dollars and not 60, to really “

destroy the Russian economy

” as Kiev demanded.

As a reminder, despite the sanctions, Russia has already been able to extract some 70 billion dollars from its oil since the start of the intervention in Ukraine, taking advantage of increased exports to China and India in particular.

►

To read: An OPEC + meeting loaded with uncertainties for world oil

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