He expressed his opinion with Espreso.
"To reduce the revenues of the Russian budget and avoid some kind of confrontation, the Western countries want to introduce a rule to reduce the price of oil from Russia. Then, perhaps, secondary sanctions will be introduced against countries that buy Russian oil at inflated prices. Therefore, I think it is quite pragmatic and a good decision," Umland explained.
The analyst added that capping Russian oil prices would significantly reduce Russia's military budget, which it spends on the war against Ukraine.
"Reducing Russian oil prices is quite a good decision. On the one hand, such a decision avoids a fundamental confrontation with Russia, and on the other hand, it can greatly reduce the military budget of the Russian Federation," Umland added.