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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Russia Drafts Decree Banning Oil Sales To Price-cap Participants (662 Views)
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Russia Drafts Decree Banning Oil Sales To Price-cap Participants by Teaser4(m): 10:36am On Nov 26, 2022 |
The Kremlin is drafting a presidential decree that will prohibit Russian companies and any traders buying the nation’s oil from selling it to anyone that participates in a price cap, according to a person with knowledge of the matter. The decree will forbid dealings with both companies and countries that join the price-cap mechanism, the person said, without giving an exact definition of how participation in such a mechanism would be defined. It would essentially ban any reference to a price cap in contracts for Russian crude oil or products, and prohibit loadings destined for any countries that adopt the restrictions, according to the person, asking not to be named because the matter isn’t public yet. The European Union has been struggling to agree on how strict a price cap should be. Diplomats suspended talks on Friday about a proposal for a cap at about $65 a barrel, well above the current price of Russia’s main export crude. Disagreements over the price level remained entrenched and the talks were postponed to Monday. It’s not clear how much impact a price cap, or a Kremlin decree in response, would have on trade. That’s because the formal backers of the measure are already refraining from buying Russian oil. The policy is actually aimed at other major consumers, such as India, which won’t have access to western insurance and other shipping services if they pay more than the capped price for Russian crude. Russian President Vladimir Putin and several other officials have said on numerous occasions that the nation won’t supply energy to those who will join a price cap. Instead, the country will redirect its oil supply to “market-oriented partners” or reduce production, Deputy Prime Minister Alexander Novak said earlier this week India, Turkey and other big buyers haven’t signed up to the cap. At this stage it looks like they would have no trouble continuing to buy Russian oil, since the latest proposal has the cap so far above current market prices. Checkmate Source: https://www bloomberg com/news/articles/2022-11-25/russia-drafts-decree-banning-oil-sales-to-price-cap-participants?leadSource=uverify%20wall Mynd44 Nlfpmod Frontpage 2 Likes 1 Share
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Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by God1000(m): 10:38am On Nov 26, 2022 |
Vladimir Putin has made Russia a mockery and laughingstock among nations of the world, no one fears him or takes him seriously anymore. He has become a global pariah 1 Like |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by BentizilL: 10:55am On Nov 26, 2022 |
Teaser4:Good 1 Like 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by ken6488(m): 11:04am On Nov 26, 2022 |
God1000:Rest 8 Likes 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by God1000(m): 11:07am On Nov 26, 2022 |
ken6488:I won't rest oo, there no peace for the wicked |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by RestructureNig2: 11:39am On Nov 26, 2022 |
God1000: You're an ignoramus 13 Likes 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by Otobong3374(m): 11:46am On Nov 26, 2022 |
It Is Only Fools That Can Say Things Are Going Well In Russia. Putin Has Isolated The Face Of Moscow From The World. Russia Has Become Things Of Mockery. 2 Likes |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by seunny4lif(m): 11:51am On Nov 26, 2022 |
Don’t EU and G7 already moved the date again forward as even UK have increased her imports of Russia oil since announcing its banning it by over X5. Poland, and all those Baltic states, who are biggest receivers of EU funded made the most noise. Azeri government have signed a new deal to buy massive Russia oil and gas. Spain and Italy are the busiest countries importing Russia LNG and oil. 9 Likes 3 Shares |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by Oches4me(m): 12:08pm On Nov 26, 2022 |
Most Nigerian especially Biafra has made themselves slaves of the West by defending their atrocity because of visa their will never get. 9 Likes 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by olugabbie(m): 12:42pm On Nov 26, 2022 |
God1000: It is the collective West that has been isolated. The rest of the world choose not to queue behind the West in purnishing (sanctioning) Russia. Apart from EU, Japan, Australia & Canada, who else is against Russia? The West thought they can get every country in the world behind them. They miscalculated. They also misjudged their importance to the rest of the world. China is more important to the rest of the world than the West. While Russia will continue to be seen as a reliable partner in the of area Energy, Military and Agriculture by the rest of the world. Any country that has the backing of both China and Russia has everything. 11 Likes 2 Shares |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by Regex: 12:57pm On Nov 26, 2022 |
olugabbie: Well said brother. 9 Likes 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by seunny4lif(m): 1:12pm On Nov 26, 2022 |
God1000:When USA tried to isolate Iraqi in 1990s, it works due to UN5 members voting to it and Russia president then was pro Western but now, the country that the USA and EU is trying to isolate is a UN5 member. China and many countries knew now that Russia is the only country that can withstand anyone. Russia have everything the India, China and many Asia countries needed for their citizens. Cheap natural resources. This war have show the world that whosoever controls large nuke weapons and resources, can do what they like and nothing will happen. Same G7 talking about isolating Russia, are still the one running to Russia for its natural resources e.g Japanese government have ran back to Russia to Gas, UK also for LNG. Russia have the most important basic things for every citizen, that’s cheap oil, gas, woods and foods, any other thing is a big bonus. If Nigeria have those things very cheap, millions of Nigerians wouldn’t be running up and down. Natural resources is the best gift of life. Germany is the richest in Europe but they too survived for many years on Russia cheap gas, oil, and now China have see it and they are getting it. Even Saudi Arabia that has oil and gas is buying Russia oil and gas to help Saudi domestic demand because no one on this earth is blessed like Russia land. 10 Likes 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by RestructureNig2: 2:15pm On Nov 26, 2022 |
Oches4me: Why are you trying to turn this to ethnic bashing? IPOB hate the British government more than other Nigerians do. You're a fool for calling people who support Britain Biafrans. 1 Like |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by itsRhamzy: 8:32am On Nov 28, 2022 |
Otobong3374:the world doesn't start and end in EU and EU doesn't make up more than 30% of the world's population market and aside NATO countries who are bitching around wanting the world to stop doing business with Russia, nobody outside Europe gives a Fvck as they continue doing business with Moscow. So what isolation are you talking about?? 4 Likes 1 Share |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by pansophist(m): 12:19pm On Nov 28, 2022 |
Otobong3374: I don't know why your name reminds me of someone that is born an idiot. 2 Likes |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by Otobong3374(m): 12:27pm On Nov 28, 2022 |
pansophist:I Can See Idiot Being Written On Your Useless Forehead. In Fact, I'm Not After A Dipsomaniac, Okay?? I Can See Buhari Ministry Of Hunger Affecting Ur Useless Life. |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by obedience4(m): 1:09pm On Nov 28, 2022 |
olugabbie: Please tell us the countries that are pro Russia, North Korea, Belarus, Cuba etc.. You fail to understand that China biggest trading partners ain't Russia, but still the USA and the west.. |
Re: Russia Drafts Decree Banning Oil Sales To Price-cap Participants by obedience4(m): 1:14pm On Nov 28, 2022 |
itsRhamzy: Which countries are doing business with Russia Nigeria. Please be enlightened the EU still remains the biggest trading bloc of any other trading organization. Before the war, EU was Russia biggest trading partners not China, not India, no matter what China buys or India, Russia still will never replace the EU markets.. Which major countries are doing business with Russia.. North Korea, abi na Belarus, Iran, countries that can't even feed themselves |
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