Sanctions against "Rosneft" and "Lukoil" have lowered Russian oil prices, writes "Reuters". The agency has reviewed the analysis of the effectiveness of US sanctions against Russian oil companies "Rosneft" and "Lukoil". The document was prepared by the Office of Foreign Assets Control (OFAC) of the US Treasury Department.
The OFAC believes that the sanctions imposed on October 22 "have had the desired effect of reducing revenues for the Kremlin by lowering the price of Russian oil."
This, in turn, reduces Russia's ability to finance the war in Ukraine, the department commented.
It is noted that several key grades of Russian crude oil are being sold at prices that have fallen to multi-year lows, and almost a dozen major Indian and Chinese buyers have announced their intention to stop buying Russian oil in December.
"Reuters" notes that according to data from the London Stock Exchange, on November 12, "Urals" with a loading point in the port of Novorossiysk was selling for $45.35 per barrel.
This is its lowest level since March 2023, when Russia began forming a "shadow fleet".
It was aimed at circumventing the "price ceiling" introduced in the winter. By Monday, the price had risen to $47.01 per barrel.
For comparison, the "Brent" variety cost $62.71 on November 12, and $64.03 per barrel on the 17th.