Kremlin spokesman Dmitry Peskov warned of the consequences of the G-7 imposing a ceiling on the price of a barrel of Russian oil and said the move would lead to a significant destabilization of the market, explaining that if the West imposed caps on the price of Russian oil, crude oil from Russia would be sold. to countries that operate according to market conditions.
And the official continued: “You know that (Russian Deputy Prime Minister Alexander) Novak is in charge of Russia’s oil contacts with OPEC and OPEC +, and yesterday Novak clearly stated that Russia will not supply its oil to the countries that will join to the Initiative to set a ceiling on the price of a barrel of Russian oil.
Prior to this, the Financial Times reported that the G7 countries are moving towards limiting the price of a barrel of Russian oil in order to reduce Russian budget revenues, “and thereby reduce financial support for the military operation in Ukraine.”
Russian Deputy Prime Minister Alexander Novak said yesterday that the OPEC+ countries, as well as India and China, do not support the idea of imposing a ceiling on the price of oil from Russia, given the idea of capping the price of a barrel of Russian oil as absurd, warning that such a move would destroy market. He stressed that his country would not supply oil and products from it to countries that would support this initiative.
Source: El Iktisad
