Russian oil selling at $79/barrel in Asia on Monday, well above price cap

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Russia's ESPO oil blend from the Far Eastern port of Kozmino was selling for around $79 a barrel in Asian markets on Monday - almost a third higher than the price cap imposed on Russian oil by the G7 and European Union - according to Refinitiv data and estimates from industry sources.

Russia exports up to 65 million tons of ESPO Blend oil per year via the Eastern Siberia-Pacific Ocean pipeline, including up to 35 million tons through the port of Kozmino.

 

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The West needs to realise that as long as China and India exist, they cannot isolate Russia. These two large nations act as a wall around Russia.

The EU, duped by the US time and time again, has fallen prey to yet another suicidal sanctions package. My energy costs have quadrupled since March and now they're playing chicken with Russia... Fools

This is kindergarden

This move will end up biting back at Europe just like the coal and gas embargoes. Quite ridiculous

The price cap does not apply to Asia!

The NEW WORLD is getting shape

The United States is going to sell oil for $60?

Viva Russia.

How unsurprising.

Western politicians are a bunch of clowns.

Of course. Did anyone seriously think a price cap in Europe would affect global prices?

AnotherBidenFail

Who would have thought that price controls didn't work, it's not like they have a 2000 year record of not working

Cap who?

its actually fun to watch how west sliding from free markets to government controlled economy - the same they were criticizing for years.

You don't say

Good.

Has this been fact checked by social media?

Was Asia consulted about the price cap...

Well gee golly that's surprising

nasoskook Καλά θα πάει και αυτό.

G7 countries kicked themselves out of the free market😂

They can shove this price cap where u know!!!

Well yeah... when competition goes away those left do what the hell they want. When the rules are made by people doing nothing, nobody pays attention to them.

you guys forget who owns the insurance companies for these ships. Play stupid games, win stupid prices

Well done👏, cheap fuel heading East. What a way to make your enemies stronger

People think they’re so observant pointing out that the US changed or disregarded their own “rules” when that’s always been the only rule. 🤣

This is the problem when the G7 in their 'walled Garden' think the rest of the 'jungle' will bend over backwards and do what they say. They don't live in reality.

vonderleyen you really are one of a kind genius 😂😂😂

they need democracy once they achieve required level of democracy, price cap will be obeyed

A very small part of the world's countries follow the American rules, about 13% as it seems Grow up

Well, that didn't last long. I think the West knew he would do this, therefore the additional sanctions that are coming will be justified and unquestioned.

'We like paying more!!!!' To terrorist states.

It’s because it’s theirs

keep the price cap for Gardners

No, no, no.

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