Bloomberg: the EU pre -agreed the parameters of the ceiling of prices for oil products from Russia

The European Union previously agreed on the parameters of the price ceiling on Russian oil products, which should even more impact on Moscow income and complicate the continuation of hostilities. The EU proposes to set the ceiling of prices for Russian fuel (gasoline and diesel) in the region of $ 100 per barrel, and for oil products, which, as a rule, are traded with a discount to oil, for example, fuel oil, at $ 45 per barrel. This was reported by Bloomberg with reference to sources familiar with the negotiation course.

It is assumed that the ceiling of prices for oil products should earn since February 5, by this moment the proposed parameters should be agreed not only with the European Union itself, but also by all allies of the Association for the Big Seven, as well as Australia. All of them had previously coordinated the maximum price of Russian oil in the region of $ 60 per barrel. The publication notes that the final versions of the ceilings can still undergo changes, since not all EU members agree with them: some insists on a deliberate reduction in ceilings, so that the blow to Russia’s income was stronger, others fear a possible shortage of oil products in the European market and another jump in prices.

Negotiations should help find the optimal balance between the fear of the deficit and the desire to hit the Kremlin’s income. The official part of the negotiations in the EU will begin on Friday, January 27, and will last for several days, after which the developed mechanism will go to coordinate with the Allies on the Big Seven. The publication notes that diplomats gradually settled the deadlines, because before the start of the sanctions there are less than 10 days.

Experts evaluate preliminary numbers quite calmly, they are close to compromise and should not reduce the receipts of Russian oil products to world markets, but they will be able to hit the income of Moscow. At the moment, the barrel of diesel in world markets is traded in the region of $ 128, Russian varieties - about $ 113.5. There is a discount on Russian oil products without additional sanctions - companies fear the consequences of existing ones, as a result of which Russian companies are forced to dump. Also, experts are sure that, albeit after some time, but the market will still be able to get into balance: Russia will find new buyers in South America and Asia, and Europe will find new suppliers from North America and Africa.

“We expect that this will not significantly affect the supply of Russian oil. Streams will mainly continue [in the new configuration], and this will reduce Russia's income, ”said Alan Gelder, Vice President of Oil Markets in Wood Mackenzie Ltd.

However, some experts still doubt that Russia in a short time will be able to redirect the volumes familiar to Europe to the countries of South America or Asia. Russia may not have enough logistics capacities, since a significant part of tankers, including the “shadow fleet”, are now involved in the transportation of Russian oil. Despite all the fears regarding the deficit of the supply and the price of prices caused by this, the ceiling of oil prices works very successfully. Russian oil varieties are traded in the region of $ 45 per barrel, with a market value of the Brent reference variety in the region of $ 85.