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Experts Estimate That Oil Price Cap Costs Russia $170 Million A Day

Inspenet.

January 12, 2023

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By: Inspenet, Jan 12, 2023

A Finnish think tank said the oil price cap is costing Russia 160 million euros ($172 million) a day, in an attempt by the West to block Russia from war against Ukraine.

A report from the Helsinki-based Center for Research on Energy and Clean Air (CREA) said the revenue loss will rise to $280 million a day when the limit is extended to refined products from February 5. .

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The investigation provides more evidence of how the limit imposed on Moscow affects, as Russian crude sells for less than half international prices, according to reviews by “Bloomberg” and “Al Arabiya.net.”

“The EU oil embargo and cap on oil prices are finally taking effect and the impact is as big as can be expected,” explained Lori Mylivirta, a senior analyst at CREA.

Source : https://es.trenddetail.com/medio-east/285419.html

Photo: ShutterStock

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