The first phase of the European Union’s ban on Russian crude oil and petroleum products kicked in this week.
European countries will stop buying seaborne crude oil from Russia with limited exceptions, robbing the Kremlin of revenues it needs to sustain its war efforts in Ukraine.
The embargo comes at the same time as a $60 a barrel price cap on Russian oil, backed by the Group of Seven advanced economies (G7), comes into effect.
Counting the Cost talks to Robin Mills, the chief executive officer of Qamar Energy, about recent developments and the possible effect on global oil prices.
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34 Comments
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A Price cap where only few countries agree with is doom to fail. Do EU think Russia will just take the hit and do nothing? No. Russia already find alternative.
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G7, EU and Australia sleep walking and shooting themselves in the foot against๐๐๐บ
China, Russia, Iran N/korea ,arabe countries, same Latin America countries and Africa can create their insurance,and it could happen soon
EU N THE WEST IS LIVING IN LALA LAND where there will is absolute..
I'll b watching when EU cry again
BRICS countries will soon replace Dollar with their own currently. The former european colonies who suffered a lot will not give any heed to Europeans. You don't practice what you preach
Millions of children died in Yemen and Iraq. Are their lives not worth as Ukranian children?
Putin Wars has United G7, EU and NATO more than EVER, good job pootin ๐๐
"robbing the Kremlin…" really? What about the hundreds of billions of dollars worth of destruction of Ukraine's infrastructure? What about 9 million people who are forced to abandon their homes, cities, and country, lose their jobs, and live as refugees? What about thousands of civilians, primarily women and children, killed by the Russian bombs? What about the dozens of thousands of men killed and wounded while trying to protect their families, their homes, and their country? "Robbing…" what an ignorant and 5tup1d comment
By the way, currently, the Ural oil, which is Russian oil, is priced at โฌ54. Russian oil is cheaper than WTI and Brent oil cause it's rough, it's dirty, and problematic to work with
Donโt worry about India. Just worry about the terrorist Qatar State.
Treat your migrants better. Al Jazeera is a terrorist mouth piece
Who cap this price at 60 dollars but do you think the Russian go along, Russia will straight forward say the f.. K you, the insurance about shipping China and others country have it, eventually or maybe the European are buying right now.
Really ! You think sea oil supports the war for the Russians. This is utterly stupid way of thinking .
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Know the iraqis and yemenis are not white they not and they are not in Europe
Joe blogs channel. Good breakdowns.
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Petro-Dollars is coming to an end!
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It is ridiculous to put cap on commodity. OPEC should now charge higher price for oil to EU and punish EU. At the same time other countries should fix price for goods of EU. With this capping other countries are suffering. EU should compensate .
He is very optimistic, too early to say.
EU, G7 etc = the most brutal terrorists who roam the globe with arrogant impunity
Eu and USA united can beat russia
Indian oil export to EU will now skyrocket ๐ India will import more russian oil, refine and mix it, then export to EU. Profit!! ๐
The country without enough water for the future also has an incredibly corrupt govt; win, win.
Not a lot of impact on Russia and a lot on Europe.
Good quality propaganda bit moronic, but persuasive
Russia can get other markets Russia should just cut off all oil supplies to Europe