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War in Ukraine: $60 cap on Russian oil not 'serious', says Zelensky

2022-12-04T07:32:27.153Z


For the Ukrainian president, cap Russian oil prices at $60 - while the price is currently hovering around $65


He considers the measure insufficient.

Ukrainian President Volodymyr Zelensky on Saturday criticized the capping of the price of a barrel of Russian oil at 60 dollars.

This agreement, sealed by the countries of the EU, the G7 and Australia, implies that oil from Russia cannot be purchased above this price.

A decision which aims to weaken Moscow but also to "stabilize the world energy markets", as explained by the President of the European Commission, Ursula von der Leyen.

The EU agreement on an oil price cap, coordinated with G7 and others, will reduce Russia's revenues significantly.



It will help us stabilize global energy prices, benefitting emerging economies around the world.

pic.twitter.com/3WmIalIe5y

— Ursula von der Leyen (@vonderleyen) December 2, 2022

But, for kyiv, which had suggested a price twice as low, it is far from sufficient.

"It is not a serious decision to set such a limit for Russian prices, which is quite comfortable for the budget of the terrorist state", affirmed, Volodymyr Zelensky, according to the services of the presidency.

“A weak position”

“Russia has already caused colossal losses to all countries in the world by deliberately destabilizing the energy market.

And the world cannot dare” to do a “real energy disarmament” of Moscow, he regretted.

"It's a weak position," he hammered.

Read alsoRussian oil price cap: 5 minutes to understand a long-awaited announcement

The price of a barrel of Russian oil (crude from the Urals) is currently fluctuating around 65 dollars, barely above the European ceiling, implying a limited impact in the short term.

In the morning, kyiv was however satisfied with such a binding mechanism, wanting to believe sooner or later in the “destruction” of the Russian economy under the weight of international sanctions.

"It would have been necessary to lower (the ceiling price) to 30 dollars to destroy (the Russian economy) even more quickly", had however already specified the chief of staff of the Ukrainian presidency, Andriï Yermak, before the Ukrainian presidency -not even share his doubts.

Source: leparis

All news articles on 2022-12-04

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