US is developing plan to limit russia’s income from oil sales

The United States of America is developing a plan to limit the kremlin's income from oil exports by setting maximum prices for russian supplies abroad.

It is reported by Bloomberg.

In particular, US officials are reported to be concerned that European Union sanctions on russian oil, which will take effect on December 5, could lead to a sharp rise in global oil prices, limiting the impact of the sanctions, as high oil prices can significantly measure to compensate russia for the losses it suffers from the reduction in supplies. By setting price limits for russian oil, the United States hopes to make it impossible for russia to retain high revenues from its sale abroad.

This week US Deputy Treasury Secretary Wally Adeyemo will visit India, a major importer of russian crude oil. One of the key topics during Adeyemo's meeting with Indian government officials will be establishing a price ceiling for russian oil.

Bloomberg experts point out that regardless of whether the price of russian oil will decrease through its restrictions at the legislative level, the expectations' effect of this decision is already showing its results.

According to them, the threat of introducing price restrictions by the United States made russian oil companies think about securing markets for their oil, and they began to offer buyers long-term contracts with a guaranteed discount. In particular, according to the Minister of Tourism of Indonesia, Sandiaga Salahuddin Uno, his country was offered "a price that is 30% lower than the international market price."