SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

The Foreign Minister: Lower the Oil Price Ceiling

Foreign Minister Maria Malmer Stenergard wants to lower the price ceiling on Russian oil. The lower the price for Russian oil, the faster the peace, she says in her speech at the defense conference in Sälen.

» Published: January 12 2025

The Foreign Minister: Lower the Oil Price Ceiling
Photo: Pontus Lundahl/TT

Malmer Stenergard has, together with Nordic and Baltic colleagues in the EU, written a letter to urge the EU Commission to propose a lowered oil price ceiling within the G7 coordination.

Russia's economy stands and falls with the oil price. The oil finances the war, she says.

As a calculation example, she mentions that a reduction of 10 dollars per barrel would mean losses for Russia of 200 billion kronor per year, which corresponds to 15 percent of the Russian war chest.

Sweden is also intensifying, according to the Foreign Minister, the work on preventing the so-called shadow fleet, which Russia uses to circumvent the oil price ceiling. The vessels can, however, be difficult to reach when they sail on international waters.

But we must not give up in any way, says Malmer Stenergard.

A lowered oil price ceiling and combating the shadow fleet go hand in hand, she believes.

Together, they reduce Russia's opportunities to harm us.

It was in October 2022 that the EU and G7 countries introduced the price ceiling on exported Russian oil to limit Russia's economic revenues. The ceiling of 60 dollars per barrel has, however, been criticized for being toothless.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Stock Market Downturn after New Inflation Figure
1 MIN READ

Stock Market Downturn after New Inflation Figure

Svantesson: Tariffs are of course bad
1 MIN READ

Svantesson: Tariffs are of course bad

Attack from Trump: Interest Rates Should be Lowered
1 MIN READ

Attack from Trump: Interest Rates Should be Lowered

Nordnet customers could trade on others' accounts
2 MIN READ

Nordnet customers could trade on others' accounts

FI's appeal: Negotiate the mortgage rate
2 MIN READ

FI's appeal: Negotiate the mortgage rate

Chinese Low-Price Actors Boost E-commerce
1 MIN READ

Chinese Low-Price Actors Boost E-commerce

Record result for Storytel
1 MIN READ

Record result for Storytel

Profit Increase for Heineken
1 MIN READ

Profit Increase for Heineken

The Stockholm Stock Exchange Rises
2 MIN READ

The Stockholm Stock Exchange Rises

Profit Boost for Sats
1 MIN READ

Profit Boost for Sats

Unemployment is increasing – highest in three years
2 MIN READ

Unemployment is increasing – highest in three years

Fish, Bird, and In-Between on Asian Exchanges
1 MIN READ

Fish, Bird, and In-Between on Asian Exchanges

Coca-Cola wins on calm US stock exchange
1 MIN READ

Coca-Cola wins on calm US stock exchange

Klarna has paid a half billion in fines
1 MIN READ

Klarna has paid a half billion in fines

Trump's U-turn on bribery - "A hard blow"
2 MIN READ

Trump's U-turn on bribery - "A hard blow"

Nordnet hit by security problem - customers could see others' accounts

Nordnet hit by security problem - customers could see others' accounts

New warning against Tesla
1 MIN READ

New warning against Tesla

Klarna agreement with JP Morgan - "important milestone"
1 MIN READ

Klarna agreement with JP Morgan - "important milestone"

Lantmännen achieves record result
1 MIN READ

Lantmännen achieves record result

Nordnet's app reopened – after four-hour outage
2 MIN READ

Nordnet's app reopened – after four-hour outage