Poland, Lithuania and Estonia call for lowering the “price ceiling” for Rosneft

Estonia, Lithuania and Poland proposed lowering the limit to $51.45 per barrel in order to further reduce the financing of the russian military industry.

Estonia, Lithuania and Poland propose to reduce the “price ceiling” to a level of no more than 51.45 dollars. According to the allies, in this case, Rosneft will trade 5% below market prices. Considering that russia’s revenues from the sale of oil in January amounted to $13 billion, the proposed limit would reduce them by $650 million, according to Bloomberg.

Estonia, Lithuania and Poland have repeatedly called for tougher sanctions against Moscow. Demands for tighter restrictions fell on deaf ears last year, as the US wanted Rosneft to continue flowing into global markets. At the same time, the EU agreed to review the maximum level of crude oil prices every two months. During the first discussion in January, the US and allies preferred to keep the threshold at $60.

We would like to remind you that the unanimous support of all governments is necessary for the adoption of a new “price ceiling”. It is reported that the 27 countries that have imposed sanctions on the export of russian oil should start discussions on revising the limit price in the near future.