The energetic disarmament of Russia has begun.

From the beginning of this week, Europe, as well as the countries of the "Big Seven" and Australia, refused to buy Russian oil.

Europeans have limited the maximum price for other buyers to $60.

In response, Putin took offense and declared that Russia itself will not supply oil to Europeans, but will look for buyers in other countries.

This is reported in the story of TSN.

The first consequences of the oil embargo: a queue of dozens of tankers with Russian oil is being searched in the Bosphorus.

Turkey requires carriers to provide proof that their cargo is insured.

After all, the Europeans forbade insurance companies to insure tankers with Russian oil if its price exceeds the price ceiling of $60 set by them.

per barrel

This

should discourage those buyers who did not plan to support the sanctions

and abandon them from buying Russian Urals.

"The European Union, which has the world's most powerful insurance companies and shipping transportations, has essentially created control over 100% of the world. They are sitting in the Bosphorus and are afraid that tomorrow the agreements on insurance will cease to operate," said the chairman of the board of the Oil and Gas Association of Ukraine" Andriy Zakrevskyi.

Russian oil will continue to flow to Europe through pipelines

.

The EU made an exception for Slovakia, Hungary and the Czech Republic.

Their oil refineries are technologically configured for the Russian Urals, and Brussels agreed that the conversion will take time. 

Prolonged discussions about what the maximum price for Russian oil should be also ended with a compromise solution - a ceiling of $60.

together with other restrictions

will deprive Russia of a significant share of its oil revenues

, but at the same time will prevent the world market from becoming unbalanced.

"My main message is this: we have to be patient, because there

are no sanctions that could shut down Russia in one moment.

It is impossible. Therefore, we should not pursue it. We should be very methodical and patient in our decisions," the prime minister said. Prime Minister of Lithuania Ingrid Šimonite.

"European officials had to find some kind of balance so that both the effect was there and the balance was preserved. So that it would not turn out that there would be an opportunity for the black market to grow. Even for us, although we need, of course, to hit Russia as much as possible, even for us here there is some caution, because Eastern European refineries - many of them work on Russian oil, and this is where gasoline and diesel come to us from. We do not want a repeat of the fuel crisis of the spring," said economist Pavlo Kukhta.

The price ceiling will be reviewed every two months, adjusting it according to changes in the market.

Despite the serious decision of the Europeans, the

oil embargo will be painful for Russia.

After all, revenues from the Urals are the main item of Russian profits, from which the Kremlin pays for the war in Ukraine.

It is predicted that the export of Russian oil will decrease by half, and the revenues of the Russian budget will fall by a third. 

Read also:

  • This is a weak position: Zelenskyi on limiting the price of Russian oil at the level of 60 dollars per barrel

  • The Western mass media learned about the scheme by which Russia will be able to circumvent oil sanctions

  • "We make Russia pay for its cruelty": the European Commission announced the ninth package of sanctions

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