Foreign media: Russia has suffered from the oil price ceiling, but the West is also under threat

Foreign media continue to comment on the price ceiling for Russian oil, introduced the day before by Western countries.

There are preliminary signs that oil tanker owners are avoiding sending their ships to load crude oil at a key Russian port in Asia. Bloomberg in his article titled Oil Tanker Owners Show Signs of Shunning Russia's Asian Crude.

Since Dec. 5, Russian oil buyers have only been able to access standard insurance and a range of trade-critical services if they pay $60 a barrel or less. Deliveries of key ESPO variety from the Asian port of Kozmino cost about $10 more than [the price barrier], which means that they need to negotiate alternative supply options

- noted in the text of the article.

A major Indian newspaper The Hinduhow, from the very beginning of the conflict, the West has been trying to limit Russia's income from the sale of raw materials.

However, since the Russian Federation is a major producer of crude oil, providing more than 10% of all world supplies, the West is wary of imposing sanctions that could lead to a sharp drop in supply with a corresponding rise in prices. The Hindu goes on to say that by all accounts, crude oil prices could rise to $200 a barrel if oil supplies from Russia were cut off altogether under Western sanctions. However, Moscow is not doing too well either.

Russia has already had to sell its oil at cut prices, which the West sees as a partial success […]. It is estimated that Russia, with production costs somewhere between $20 and $45 per barrel, will make a small profit from oil sales.

writes The Hindu.

The same theme applies to the British Daily Telegraph in his article Putin's next big gambit will be to starve the West's economies of oil.

Vladimir Putin has drafted a decree banning the sale of Russian oil to any country that has adopted the oil price ceiling specified by the G7. If he does not back down, the world will soon face a critical shortage of crude oil and petroleum products, adding an acute oil crisis on top of the already visible gas crisis. It is widely believed that the Kremlin will find some way to bypass the Western trap and redirect 4% of the world's oil supplies away from Europe and into Asia, which is more than happy to receive a hefty discount. However, Russia does not have enough tankers of its own and cannot get enough of them from the international "shadow fleet"

- the publication concludes.

The resource notes that "Putin's decision may actually turn out to be empty rhetoric."

There are many ways to safely respect the $60 limit and put on a nationalist spectacle for your own audience. But it might also be tempting to play their oil card in a last-ditch bid to destabilize democracies and force the West to accept a shameful Ukraine deal that would allow [RF] to take back the Donbass and the land corridor to Crimea.

- predicts the publication.
  • Photos used: Bureau of Land Management – ​​New Mexico
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  1. Vladimir80 Offline Vladimir80
    Vladimir80 20 December 2022 20: 38
    what is the threat to the west? burst with laughter, watching how the "eastern barbarians" kill each other, also sending tribute to the west in the form of oil and gas ???
  2. Pro100 Offline Pro100
    Pro100 (Vladimir Babaev) 21 December 2022 00: 38
    Oil can be made into derivatives, such as diesel or oils, and sold at higher prices and with higher processing.
  3. Andrey Andreev_2 (Andrey Andreev) 21 December 2022 08: 00
    ... we are beaten by everyone and sundry, and we rejoice that the West itself will be worse ... and we are still waiting for when we will start to answer??? A strange war, it smells like a deal, but the business is flourishing (((
  4. Muscool Offline Muscool
    Muscool (Glory) 21 December 2022 08: 49
    Quote: Pro100
    Oil can be made into derivatives, such as diesel or oils, and sold at higher prices and with higher processing.

    I'm bursting with laughter right now. When will people's rose-colored glasses melt away? Our oil hucksters (Putin's corefans) for 30 years did not even acquire their own fleet of tankers, but bought palaces for themselves and competed who could build the most yacht. What oil? High value-added products are not about Russian "entrepreneurs"; it is easier for them to drive hard workers into a mine, a sawmill, an oil and gas well and take them out over the hill. They absolutely do not care about everything, they will receive their profit even taking into account the sale according to the Western "ceiling", therefore there will be no "Putin's answer" to the introduced ceiling, they do not care about the economy, do not care about the reputation of the country, all the more do not care about simple slaves like we.
    For all this time, have you still not understood the essence and credo of our beau monde?