Ukraine sees the cap on the price of Russian oil as insufficient

The head of the Office of the President of Ukraine, Andriy Yermak, considers that the cap on the price of oil established by the countries of the European Union, the G-7 and Australia at 60 dollars (57 euros) a barrel will end up sinking the Russian economy , but he believes that it would have been better if such a limit had been at 30 dollars a barrel. As Yermak points out on his Telegram channel, “the G-7 and Australia, following the EU, introduced a cap on the price of oil supplied by sea from Russia at $60 a barrel (…) although it should have been reduced to 30 dollars to more quickly destroy the enemy’s economy”, as Poland and the Baltic republics advised.

The measure, however, which will begin to be applied from Monday, will not affect the fuel that reaches Europe through the pipeline, since Hungary requested it. In any case, the head of the Ukrainian presidential administration assured, “we always achieve our goals and the Russian economy will continue to be destroyed. Russia will have to pay and answer for all its crimes.”

In his opinion, “the same will happen with the creation of the international special court” to prosecute war crimes committed by Russian troops. Yermak is convinced that “they are very afraid of this because they know that Ukraine will get away with it,” he wrote on Telegram. The Kremlin, however, stressed this week that such a court would lack legitimacy. The cap on crude oil prices joins the numerous sanctions packages adopted by the West against Russian natural and legal persons since the beginning of the war on February 24.

For his part, the Kremlin spokesman, Dmitri Peskov, warned today that “we will not accept that ceiling” and Russia will try to sell its oil to other countries. According to Peskov, “we are evaluating the situation. Certain preparations have been made for such a cap. We do not accept it and we will inform you how the work will be organized once the analysis is finished. More forceful has been the pronouncement of the Russian Embassy in the United States, warning that “Washington strategists, hiding behind noble slogans such as guaranteeing energy security for developing countries, maintain a wall of silence about the fact that the current imbalances in the energy markets stem from his ill-conceived actions: the introduction of sanctions against Russia and bans on the importation of energy from our country.”

This is how the Russian diplomatic statement expresses itself, which also denounces that the West “is trying to solve the problems that they themselves have created impetuously.” “We are witnessing a reshaping of the basic principles of the free market (…) decisions like these will inevitably generate greater uncertainty and impose higher costs for consumers of raw materials,” the note continues and concludes by saying that “regardless of the flirtations with this dangerous and illegitimate instrument, we are confident that Russian oil will continue to be in demand.”