Traders expressed doubt about the effectiveness of EU sanctions against Russian oil exports

Traders doubt the effectiveness of the new European Union (EU) restrictions on Russian oil exports. This was reported by the Reuters news agency on July 18.

"Traders doubt that the new EU sanctions will significantly affect Russian oil exports," the publication says.

According to the agency, Russia has previously managed to sell most of its oil at prices above the established price ceiling. It is clarified that this was possible due to the inaccuracy of the existing mechanism — it does not determine who should monitor compliance with the imposed restrictions.

In addition, the United States has not yet joined the new sanctions, and the EU has limited capacity to implement them.

It doesn't make sense.: The European Union has adopted the 18th package of sanctions against Russia

The restrictions will also affect the ceiling of oil prices.

On the same day, the permanent representatives of the EU countries agreed on the 18th package of sanctions against Russia. The new restrictions will affect the operation of the Nord Stream gas pipelines and the reduction of the oil price ceiling to $47.6 per barrel. In addition, the sanctions will also affect 22 Russian banks.

According to Kremlin spokesman Dmitry Peskov, Russia has acquired immunity to the sanctions that the EU is actively imposing. According to him, in order to minimize the consequences of the 18th package, Moscow needs to get acquainted with it in detail.