State Duma Speaker Vyacheslav Volodin expressed his conviction that “the price ceiling that the G7 countries want to set for Russian energy resources will be minimal for these local prices,” and believed that “the real price of energy resources will be determined in the market” through contractual obligations.

In a statement, he explained, “The global market is not limited to just seven countries. More than 80% of the world’s population does not support sanctions against Russia,” stressing that “the era of Western invasion in others is over.”

It is noteworthy that the leaders of the G7 countries (Great Britain, Germany, Italy, Canada, the USA, France and Japan) at the summit on June 26-28 confirmed their determination to reduce energy dependence on Russia and agreed in principle to set a price ceiling for Russian energy resources.

For his part, Russian Deputy Prime Minister Alexander Novak called the idea of ​​lowering oil prices “absolutely ridiculous”, stressing that “Russia will not supply oil and oil products to countries that support it”, adding that “imposing restrictions on prices for Russian oil destroy the market. Other manufacturers also do not welcome such an initiative.