White House monitoring compliance with ceiling on Russian oil prices
White House National Security Council Coordinator John Kirby (photo: GettyImages)
White House National Security Council Coordinator, John Kirby, believes that imposing price caps on Russian oil has significantly limited the Kremlin's options, and the United States will continue to monitor the situation, according to Reuters.
A White House representative noted that the United States considers price caps on Russian oil an important tool and is closely monitoring to ensure that the restrictions are not violated.
"Nobody should be buying Russian oil in violation of the price cap. We will continue to watch and discuss this with our European Union allies and partners to ensure effectiveness," Kirby said.
Price ceiling
Since December 5, 2022, the European Union has imposed an embargo on the import of marine oil from Russia. In addition, G7 countries and Australia have imposed a price cap of $60 per barrel for Russian oil.
This mechanism allows third countries to purchase Russian fuel using Western ship insurance. At the same time, there is a price limit set at $60 per barrel for crude oil, $45 per barrel for heavy fuel, and $100 per barrel for light fuels such as gasoline and diesel.
However, according to the Financial Times, Russia has managed to evade G7 sanctions on a significant portion of its oil.
