US President Donald Trump called on Saudi Arabia and OPEC to lower the price of naphtha. In my opinion, this will help to quickly end the war between Russia and Ukraine.
As RBC-Ukraine reports, US President Donald Trump said this during his speech at the World Economic Forum in Davos.
“I want to ask Saudi Arabia and OPEC to reduce the price of naphtha again. I’m surprised that they didn’t raise anything before the elections. If the price dropped, then the war between Russia and Ukraine would quickly end,” – Trump said.
In my opinion, as long as naphtha prices remain high, the war will continue.
“You can put an end to the war by lowering the price of naphtha. This need has long been met, it's unprecedented with yours sides,” said the US President.
“Price guide” for naphtha
It seems likely that the price guide for Russian naphtha was installed in early 2022 by the countries of the EU and the “Great Family” (G7).
The price limit was set at 60 dollars per barrel of Russian crude oil, and for petroleum products – at a maximum of 100 dollars per barrel for premium petroleum products and 45 dollars per barrel for other naphtoproducts.
However, after this, Russia created a “shadow fleet” so that it could bypass such restrictions to Zakhad and sell its naphtha at an extraordinary price.
Recently, the European Union shipped the 15th package sanctions against Russia, which is aimed at the “shadow fleet” of the Russian Federation. 52 ships from three countries were sunk before the sanction list.
Currently, the countries of the “Great Sea” are considering the possibility of imposing a “price cap” on Russian naphtha.
Recently, six countries of the EU called on the European Commission to reduce the price limit set by the G7 countries for Russian naphtha to 60 dollars per barrel. This is to reduce Moscow's income to prolong the war in Ukraine without causing a shock to the market.
Read terms and important information about the war between Russia and Ukraine on the RBC-Ukraine channel in Telegram
