The ban on Russian oil will hit global supplies, Bloomberg

December 5 will come into effect a ban on oil supplies from Russia by sea.

"If the ban prevents exports, it will hit global supplies. If exports go in the other direction, the result could be a complex and costly reorganization of global cargo flows," the publication reports.

Overall, a ban on Russian oil would raise oil prices in Europe. But at the same time the price of Urals oil may fall, because Russia will have to find new customers. And the customers will insist on a discount.