"Bloomberg"Cyprus did not support the US embargo on oil supplies from Russia

Bloomberg sources, citing sources, said that Cypriot Finance Minister Konstantinos Petrides expressed concern about the US desire to prevent the transportation of Russian oil by ships flying the Cypriot flag.

US Treasury Secretary Janet Yellen had a conversation with her Cypriot counterpart on Monday. The parties discussed the possibility of imposing a price ceiling on Russian oil in addition to mitigating the spillover effects of the global economy.

The sources were reported to have revealed that the US was insisting that Cyprus prevent Cypriot-flagged ships from transporting Russian oil to third countries. However, the Cypriot Finance Minister expressed concern about this move, noting that many other countries do not impose sanctions against Russia.

The embargo imposed by the European Union and the United States on the purchase of Russian oil led to a sharp increase in prices, which allowed the Russian Federation to redirect large volumes of raw materials to other markets, primarily to Asia, for example, to India and China. . As a result, even by selling less oil in installments, Russia increased its revenues as a result of Western sanctions, while the European Union and the United States suffered losses, including the side effect of inflation.

Source: TASS

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