NOURNEWS - Although setting a price cap for Russian oil will have some effect on the global market of this commodity, since the country's oil has been sanctioned for a long time, it shows the West's efforts to further politicizing this market.
Since the beginning of the oil embargo, Russia has been prohibited from directly or indirectly providing technical assistance, brokerage or financing services, financial assistance related to trade, brokerage or transportation, including ship-to-ship or to third countries and for this reason, the price cap for a business that has been banned is practically distorted.
India can ignore the Russian oil price cap
The United States claims that India can still buy Russian oil at a price outside the set cap and pay the difference in the excess price in other financial transactions of these two countries, especially in the purchase of military weapons by India from Russia, and this overpayment in the financial documents related to The purchase of military weapons will be out of the monitoring of the western monitoring institutions.
Determining the price cap of Russian oil has no place in trade with China
In the case of China, the issue is clearly related to two countries on a par with the United States, which with their financial and political independence can continue to buy oil and other items that have been embargoed by the West within the framework of commercial relations and outside the control of the West. So it was clear that China will not adhere to Russian sanctions and will act based on the policies of the two countries.
Russia's upper hand in OPEC+ and the ineffectiveness of setting the price cap for Russian oil
Russia's position in OPEC Plus has also provided a superior position for this country, whose last action was related to reducing the production limit of this forum to 2 million barrels per day, which was accompanied by the agreement of Saudi Arabia as a traditional partner of the United States, and the American effort to disrupt this agreement was not implemented even with Biden's trip to Riyadh.
Europe's damage from setting the price cap for Russian oil
Sergei Ryabkov, Deputy Minister of Foreign Affairs of Russia, also pointed to Washington's non-adherence to the principles of globalization and the rules of the world market, stating that setting a price cap for Russian oil fundamentally "Washington takes away the branches on which it is sitting and the world market has torn into pieces."
Europe's spiritual charge by setting the price cap for Russian oil
The continuation of financial and military support for the war in Ukraine, which has eroded the power of European statesmen and has gradually turned into a kind of discouragement, the latest example of this frustration is Hungary's opposition to the payment of an 18-billion-euro loan from the European Union to Ukraine, which Budapest threatens. had helped to veto this, the West is trying to set a price cap for Russian oil to change the cost balance on both sides of the Ukraine war to some extent and in this way reduce the financial pressure within the European Union and the continued opposition in support of Ukraine.
Asian goals to set a price cap for Russian oil
In determining the price cap for Russian oil, the West is apparently seeking to impose restrictions on the country's oil revenues, but on a larger scale, it is seeking to expand the war in Ukraine towards the Asian continent in order to attract countries such as China and India with the project of "ally making" and with the slogan "Us vs. Russia" to get them involved in issues that overshadow the international authority that is gradually forming against America.
BY: Pooya Mirzaei
NOURNEWS