Washington tries to convince big oil traders to trade Russian oil, of course, without violating the established ceiling. Since the imposition of restrictions and sanctions against Moscow, commodity brokers have avoided trading with Russian companies and Russian products, fearing that even if they accidentally violate sanctions, the consequences for them will also be severe.

On the other hand, Washington wants Russian oil to continue to be traded on the world market so as not to drive up the international price of “black gold”, but with a maximum price of $60, as the G7 decided, in order to limit Moscow’s income.

Commodity brokers fear repercussions if they even accidentally violate sanctions against Moscow.

The US has another reason to want the participation of big traders. As reported in a recent report by the Reuters news agency, sanctions imposed by the West on Russia have led to a weakening of the dollar in international oil trade. And this is because most of Russia’s agreements with India, which is one of its main sales markets, as well as with China, are drawn up in other currencies. India is the world’s third largest oil importer, and Russia became its main supplier after Europe imposed an embargo on Russian oil. Since the West imposed a price ceiling on Russian oil on Dec. 5, Indian buyers have paid for much of the Russian oil they receive in third-country currencies, including UAE dirhams, and more recently in rubles, bank sources tell Reuters. The sources added that oil trade between India and Russia was worth several hundred million dollars last quarter.

According to the Financial Times, competent US Treasury officials met with executives and brokers from Trafigura and Gunvor, among others, who have pledged to expand into Russian oil and fuel trading without violating Western restrictions.

“One of the goals of price caps is to ensure that oil remains on the market, albeit at a lower price, to deprive the Kremlin of revenue,” a second US administration official said. “We are pleased because the oil markets have actually remained stable in recent months, while Russian revenues have fallen by 60% since the invasion.” During the CERAWeek energy conference in Houston this week, contacts took place between representatives of the US Treasury and traders. Elizabeth Rosenberg, Assistant Secretary of State for Financial Crimes, was among the Treasury Department representatives in Houston. Recall that in December, the G7 introduced a ceiling on Russian oil prices of $60 per barrel, which applied to traders using the services of Western companies, such as marine insurance, when sending Moscow oil to the market. Most of the G7 countries and the EU they have also banned the import of Russian oil cargo by sea. However, sales to other countries are still allowed. Washington’s actions are also of interest to Greek shipping. The removal of major traders from dealing with Russian oil has led to the fact that most Greek ships began to avoid cargo from Russia. But even those shipowners who decided to transport Russian oil, observing the conditions and sanctions of the West, became the target of critical publications by Western, and especially American, media. Now Washington is asking traders to do the same.