Elina Ribakova: The Global Market Share of Russian Oil Hasn’t Changed Since the Start of War in Ukraine

FERRO Can we start ░░░░░░░░ How much Russian oil ░░░░░░░░ on this market now ░░░░░░░░ compared to where it ░░░░░░░░ before this war RIBAKOVA ░░░░░░░░ the same You know ░░░░░░░░ think we had this ░░░░░░░░ price cap which had ░░░░░░░░ objective which I m ░░░░░░░░ I have to compare ░░░░░░░░ having cake and eating ░░░░░░░░ too a little bit ░░░░░░░░ we wanted to have ░░░░░░░░ Russian oil on the ░░░░░░░░ but at the same ░░░░░░░░ lower Russian revenues Well ░░░░░░░░ achieved the first objective ░░░░░░░░ oil is on the ░░░░░░░░ On the lowering of ░░░░░░░░ that is a bit ░░░░░░░░ nuanced and complicated FERRO ░░░░░░░░ me why Just give ░░░░░░░░ the math around that ░░░░░░░░ is that so much ░░░░░░░░ nuanced and complicated RIBAKOVA ░░░░░░░░ we re on Bloomberg ░░░░░░░░ s economic consensus On ░░░░░░░░ side about 10 per ░░░░░░░░ per year makes a ░░░░░░░░ of about 20 billion ░░░░░░░░ revenues for the companies ░░░░░░░░ for the budget as ░░░░░░░░ So it s a ░░░░░░░░ billion incentive to circumvent ░░░░░░░░ oil price cap They ░░░░░░░░ putting everything they got ░░░░░░░░ it to be able ░░░░░░░░ do so If we ░░░░░░░░ not doing the same ░░░░░░░░ our side of course ░░░░░░░░ are difficulties So if ░░░░░░░░ think about the cap ░░░░░░░░ still have provisions on ░░░░░░░░ G7 shipping and insurance ░░░░░░░░ to Russia and their ░░░░░░░░ are very small You ░░░░░░░░ I can put it ░░░░░░░░ a station saying I ░░░░░░░░ seen the contract and ░░░░░░░░ promise to you it ░░░░░░░░ below the cap Imagine ░░░░░░░░ we were filing taxes ░░░░░░░░ same way I have ░░░░░░░░ my income and I ░░░░░░░░ you it s very ░░░░░░░░