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Russian oil selling at $79/barrel in Asia on Monday, well above price cap

Price cap, oil embargo are 'new economic shock' for Russia, say central bank analysts
Price cap, oil embargo are 'new economic shock' for Russia, say central bank analysts -  Copyright  Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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- Russia's ESPO oil blend from the Far Eastern port of Kozmino was selling for around $79 a barrel in Asian markets on Monday - almost a third higher than the price cap imposed on Russian oil by the G7 and European Union - according to Refinitiv data and estimates from industry sources.

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Russia exports up to 65 million tons of ESPO Blend oil per year via the Eastern Siberia-Pacific Ocean (ESPO) pipeline, including up to 35 million tons through the port of Kozmino.

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