In November 2023, the United States imported oil from Russia for the first time since April 2022, according to US statistical data. Washington purchased almost 10,000 barrels of Russian oil for $749,000. Thus, the price per barrel was about $74.9, which is above the established ceiling on Russian oil prices
In November 2023, the United States imported oil from Russia for the first time since April 2022, according to data published by the US Census Bureau.
The US purchased almost 10,000 barrels of Russian oil for $749,000. Thus, the price per barrel was about $74.9, which is above the US price ceiling for Russian oil. Before this, Washington purchased oil from Russia more than a year ago, in April 2022, TASS drew attention . At that time, the United States imported 709,000 barrels of oil for $84.9 million.
The G7 countries (USA, Germany, Japan, UK, France, Italy and Canada), the EU and Australia, which formed the so-called price cap coalition, announced in December 2022 that they would set a maximum price of $60 per barrel of Russian oil transported by sea. The price ceiling came into force on December 5, 2022, along with an embargo on the import of Russian oil into coalition countries. In February 2023, a similar embargo and price ceilings on Russian petroleum products appeared .
In December 2023, the US Treasury updated the mechanism for complying with the price ceiling for oil and petroleum products from Russia. The new requirements oblige suppliers from the countries of the coalition, which supported the introduction of a price ceiling, to receive confirmation from their counterparties each time they load and ship Russian oil.
As the Russian Ministry of Finance reported in January, the average price of Urals oil in 2023 was $62.99 per barrel, thereby its cost was above the established threshold of $60 per barrel.
Energy News Beat