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Russia to cut oil supplies to Europe this year: ambassador
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Russia will stop supplying oil to Europe later this year after the Union European Union (EU) has decided to limit the price ceiling of the Russian barrel, as stated this Saturday (3) the Russian ambassador to international organizations in Vienna, Mikhail Ulyanov.
“From this year, Europe will live without Russian oil. Moscow has already made it clear that it will NOT supply oil to countries that support limiting prices against the market,” wrote Ulyanov on his Twitter account and on other social networks.
“Very soon the EU will blame Russia for using oil as a weapon ”, predicted the representative of the Kremlin in his brief statement.
EU countries agreed on Friday (3) to set a price ceiling for Russian oil of US$ 60 per barrel, as part of sanctions imposed on Moscow for its aggression against Ukraine.
The measure, to which the G7 powers and Australia adhered, would not directly affect the community territory because it coincides with the entry into force, on Monday (5) , of an embargo on crude oil imported from Russia, except that purchased by Hungary by pipeline.
However, it prohibits European shipping companies from transporting Russian oil to third countries if this is sold at a price higher than the fixed one, and the same applies to insurance companies contracted for the transport of Russian crude oil.
The EU political agreement ensures that if the market price falls below $60 the barrel, the limit will be updated to be at least 5% below what is on the market.
Moscow had already warned that it would stop selling its oil to countries that apply a ceiling to the price of a barrel, considering that this intervention violates the rules of the free market.
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