Zelensky criticizes the price ceiling set for Russian oil

Ukrainian President Volodymyr Zelensky criticized today, Saturday, setting the ceiling for the price of a barrel of Russian oil at sixty US dollars, after the agreement of the European Union, the Group of Seven and Australia.

Zelensky said, according to what was quoted by the presidential office, “Determining this ceiling for Russian oil prices is not a serious decision, as this matter is completely convenient for the budget” of Russia.

And the Ukrainian president considered that the decision was not a “serious decision” after Kyiv proposed a two-time lower price.

The price of a barrel of Russian crude is currently around $65, slightly above the European ceiling.

And Andrei Yermak, director of the Ukrainian President’s Office, said earlier today that the ceiling for this price should be reduced at 30 US dollars per barrel.

The G7 countries and Australia agreed to set a ceiling for the price of Russian oil at $60 a barrel, following a similar agreement reached earlier Friday by the member states of the European Union, according to a joint statement.
The European Union countries also agreed, earlier, on the principle of capping the price of Russian oil, but it remained suspended as a result of Poland’s reservation, which wanted a lower price, before retracting its objection on Friday, which allowed first an agreement within the bloc and then between the G7 countries and Australia.
According to the joint statement, the mechanism will enter into force on Monday with the entry into force of the ban imposed by the European Union on the purchase of Russian oil by sea.