Rosneft

The European Commission said that Rosneft’s price cap of $60 per barrel “proved to be effective” against the Kremlin’s war machine. There are no plans to lower the price ceiling in the near future.

Russia may reduce oil exports from its western ports in March. The decrease in exports occurs against the background of a reduction in oil production.

In November, oil exports from Iran increased to about 1.3 million barrels per day, and in December they reached almost the largest volumes in the last four years.

The price of russian oil is currently twice as cheap as the world’s leading grades. Also, the value of Rosneft fell to a level lower than the limit, which was introduced by the G7 countries to limit moscow’s income.

After the introduction of Western sanctions in December, russian oil prices fell to $50 per barrel.

Russian federation delivers oil to India on tankers insured by Western companies. Previously, moscow threatened to end relations with countries that imposed sanctions on Rosneft.

Due to sanctions, the export of russian oil from the ports of the Baltic Sea may decrease by 20% in December.

The largest oil company of the USA, ExxonMobil, refuses the freight of tankers that transported oil from russia.

Sea shipments of crude oil from russian federation decreased significantly in the first week of the G7 sanctions.

The Indian government fears that the price cap on Rosneft will hit supplies and block payment channels.