Russian economist Valentin Katasonov believes that the “ceiling” of the price of Russian oil, which is introduced by the countries of the European Union, will not affect the Russian economy in any way.

“Russia will not feel this sanction much, because the current price for the Urals oil brand is at the level of 67-68 dollars per barrel, and, taking into account the discount, it turns out to be below 60,” BelTA quotes him as saying.

According to the expert, the European Union will suffer much more from its own sanctions imposed on Russian gas, because, according to the laws of the economy, “demand begins to exceed supply, and prices are rising.”

“You don’t have to be a great economist to understand that Europe is once again making itself hara-kiri, because it limits the supply of oil,” he concluded.

Earlier, the British edition of the Daily Express published an article stating that Russia dodged a blow that the West had been preparing for several months.

Author Elena Ivchenko

Elena Ivchenko is a journalist, correspondent for the news service Pravda.Ru