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Click here to see over 150 global oil prices
Click here to see over 150 global oil prices
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Click here to see over 150 global oil prices
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The U. S. set a value limit for U. S. LNG. U. S. fuel destined for Europe because U. S. fuelit is sent to Europe at a value four times higher than the value of domestic consumption, Russian Deputy Prime Minister Alexander Novak said in an interview with Russian state television.
“We advise our American partners to set a secure maximum value for the resources they supply to Europe. This pushes Europe towards energy poverty,” said the Russian official representing the country at OPEC meetings.
“It’s interference with market instruments,” Novak said.
“We are in a position to work with consumers who are willing to work according to market principles. “
The U. S. Treasury The U. S. will devise a three-phase strategy for G7 sanctions and price caps on Russian oil to keep Russian crude and goods flowing, but with lower prices. The G7 organization of the most industrialized nations will first target Russian crude oil and then continue to include diesel at the stage for the time being. Finally, products of lower value, such as naphtha, will be components of the 3rd stage.
Some EU countries are also pushing for a cap on herbal fuel prices. Belgian Prime Minister Alexander De Croo, for example, said the EU could impose a strict cap on Russian fuel and a flexible cap on LNG imports, which would still be high enough. so that LNG exporters have incentives to bring it to Europe.
The European Commission has been so reluctant to propose a cap on fuel prices, precisely because it feared that by restricting the price, LNG exporters would simply forget about Europe and sell their cargoes to consumers in Asia.
By Michael Kern for Oilprice. com
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