Economic Statecraft
Valdai Club to Discuss the Price Cap on Russian Oil
Valdai Club Conference Hall, Tsvetnoy Boulevard 16/1, Moscow, Russia
List of speakers

On November 30 at 13:00 Moscow time (GMT+3), the Valdai Club will host an expert discussion, titled “Who Really Stumbles Over the ‘Price Threshold’ for Russian Oil?”

Unilateral restrictive measures being rolled out by the US, the EU and a number of other initiators have led to the excessive politicisation of Russia’s participation in the global oil market. Bans on oil supplies to the United States are already in force, and they will come into force in the EU on December 5, 2022. In addition, the G7 countries are working to introduce a “price cap” mechanism for Russian oil. It involves a ban on the transportation of oil from Russia by sea and the provision of related services if the price of transported oil is above a certain threshold. It is assumed that this threshold will be lower than the world oil price, which will force Russia to sell oil cheaper. However, until now, the EU countries have not been able to agree on a single “threshold” level because of the position of Poland and the Baltic countries. Against this background, Russia is actively looking for new markets and ways to supply oil to buyers that would be protected from the impact of Western sanctions.

To what extent will Russia be able to reorient its supplies to Asian markets? Will Russia be able to maintain its volume of oil exports or increase them in the event of an increase in world demand? How will the sanctions affect world oil prices? Will the “price threshold” limit the Russian supplies? These and other questions will be discussed by the participants of the discussion.


Information for the media: In order to get accredited for the event, please fill out the form on our website or call +79269307763. A link to the live broadcast of the discussion will be posted on all online platforms of the Valdai Club: on the websiteTwitterVKontakteTelegram and Zen.