Poland, Lithuania and Latvia urged to lower the ceiling on oil prices from Russia

The authorities of Poland, Latvia and Lithuania are in favor of lowering the ceiling for oil prices from Russia, set in December at $60 per barrel, to $51.45 per barrel, or by 5%.

Given the fact that the Russian budget revenues from oil exports in January 2023 amounted to $ 13 billion, a reduction in the maximum selling price would reduce them by $ 650 million.

These Baltic countries have been advocating tougher sanctions against Russia for a long time. Last year, the demands of Poland, Latvia and Lithuania were ignored due to the position of the United States, which insisted that restrictions be set at a level that does not threaten fuel supplies to world markets.

Today, representatives of the EU countries will begin discussing a possible revision of the ceiling of prices for Russian oil. According to the existing agreements, the revision is carried out every two months. Following the results of the last discussion in January, it was decided to keep the ceiling at $60 per barrel.