Ukraine will work on lowering the price of Rosneft

Ukraine is working to reduce the price of russian oil to $30-35 per barrel.

The EU and Great Britain imposed a ban on the import of russian oil on December 5. At the same time, the G7 countries and Australia introduced a policy of limiting prices for sea transportation of crude oil and petroleum products.

“Russia’s stormy negative reaction confirms that we are moving in the right direction,” said Ukraine’s Economy Minister Yuliya Svyridenko. — However, there is a downside to the adopted decisions. This is an acceptable and generally comfortable level of price restrictions for russia, which will minimally affect russia’s oil revenues. And, accordingly, on the ability and desire of russian federation to finance the war in the future.”

“Ukraine will work to ensure that the level of price restrictions is revised downwards by our allies as soon as possible. The optimal level that will really hit Russia’s oil revenues is $30-$35 per barrel,” the government official comments.

They may also announce a financial ceiling for oil products already in February. Currently, Turkey requires vessels transporting Rosneft through its waters to provide letters of guarantee from insurance companies, the minister added.