Baku 21° C
Oil price cap costs Russia $170m a day
Energy
- 11 January, 2023
- 08:09
Add Report.az to preferred Google sources
Stay up to date with the top news!
Lost revenues will rise to $280 million a day when the cap is extended to refined products from February 5.
Report informs via Bloomberg that the price cap on Russian oil is costing the Kremlin €160 million ($172 million) a day, Report informs via Bloomberg.
“The EU’s oil ban and the oil price cap have finally kicked in and the impact is as significant as expected,” said Lauri Myllyvirta, lead analyst at CREA.
Russia has so far shipped €3.1 billion of crude on vessels covered by the price cap, the bulk of which is taxed by the government, CREA said.
Author
Rusiyanın neft gəliri gündəlik 172 milyon dollar azalır
Ограничение цен на нефть обходится России в более чем 170 млн долларов в сутки
Latest News
23:35
Video
President Ilham Aliyev's social media accounts shared video on Cambodian Prime Minister's visit to Azerbaijan
Foreign policy
23:17
Parviz Shahbazov: Oil market stability also depends on safe energy deliveries
Energy
23:11
Georgia seeks role in China-Kyrgyzstan-Uzbekistan transport route
Region
22:34
Education authorities inspect dress-code compliance in Baku schools
Education and science
22:15
Photo
Azerbaijani photo club continues 'landmine-free world' campaign in Sarajevo
Foreign policy
21:59
Shaffer: Military outcome paved way for Armenia-Azerbaijan peace
Foreign policy
21:31
29 foreign ministers accuse Iran of hostile hybrid activities
Other countries
20:53
Photo
Azerbaijan's new ambassador presents credentials to Pakistan's president
Foreign policy
20:34
Škoda Group plans manufacturing and maintenance facility in Baku
Industry