The price of Brent oil on the London ICE exchange rose above $119 per barrel for the first time since February 13, 2013. This Thursday, March 3, follows from data trades.
The price of May futures for Brent crude oil rose by 5.48% to $119.12 per barrel as of 10:45 Moscow time. In turn, April WTI futures rose 4.84% to $115.95. Oil of this brand is trading above $115 for the first time since September 22, 2008.
Earlier in the day, Brent futures for May 2022 soared 4.68% to over $118 a barrel.
The day before it was reported that the price of Brent oil exceeded $115 per barrel for the first time since June 2014.
On February 28, Canada announced its intention to ban the import of Russian oil against the backdrop of a special operation by the Russian Federation in the Donbass.
Prior to that, on February 24, British Prime Minister Boris Johnson announced new sanctions against Russia and noted that countries should collectively abandon Russian oil and gas, “which for too long have given leverage to pressure on Western politics.”
Russia faced Western sanctions after Russian President Vladimir Putin announced a special operation on February 24 to protect the civilian population of Donbass.
On February 21, the Russian leader signed decrees recognizing the independence of the Donetsk and Lugansk People’s Republics, as well as treaties of friendship, cooperation and mutual assistance with the republics. The documents were ratified the next day.
Since 2014, the Kiev authorities have been conducting a military operation against the inhabitants of Donbass, who refused to recognize the results of the coup d’état and the new government in Ukraine.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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