The farewell sanctions of former US President Joe Biden became the most painful for the aggressor country Russia: the price of Urals fell below $60 per barrel, and the discount was $15.7.
Points of attention
- Sanctions against more than 180 Russian tankers and companies have led to a jump in freight costs.
- Biden was able to disable many ships delivering Russian oil from the Arctic and the Far East.
Biden was still able to hit Russia's oil business
What is important to understand is that the Russian Ministry of Economic Development calculated that in the baseline scenario, the price is expected to be $69.7 per barrel.
It was these calculations that became the basis for the federal budget of the aggressor country for 2025.
However, former White House President Joe Biden made adjustments to the forecasts and plans of the Russian authorities when, on January 10, he imposed powerful sanctions against more than 180 tankers, dozens of oil trading and insurance companies, as well as two production companies — Gazprom Neft and Surgutneftegaz.
Thus, official Washington was able to disable many ships delivering Russian oil from the Arctic and the Far East.
Moreover, these restrictions caused the cost of freight to jump several times, as there was a shortage of ships that were not on the blacklist.
As a result, the difference between the cost of oil at Russian ports of departure and delivery ports in India has increased, according to Argus Media, to $13 per barrel — also the highest figure since last May.
Against the backdrop of recent events, when the aggressor country faced a shortage of tankers and a rapid increase in freight costs, sales of Russian oil to Asia have stalled.
