16:22 - 5.12.2022

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December 5, Fineko/abc.az. The introduction by the EU price cap level on Russian oil prices will lead to the maximum negative impact on the European countries themselves, ABC.AZ reports with reference to the authors of Chinese newspaper Global Times, citing the opinion of local experts.

"Europe should prepare for higher energy prices," said Lin Baoqiang, director of the Xiamen University Energy Economics Research Center.

He noted that Moscow is unlikely to agree to the sale of oil at reduced prices. The expert noted that at the same time, the EU will have to increase oil imports from the U.S.
"In the near future, Europe will almost inevitably expect a sharp rise in prices for this energy carrier," Baoqiang added.