Moscow warns of possible consequences from imposing Russian oil price cap
(VOVWORLD) - The planned price cap on Russian oil is an anti-market measure that will disrupt supply chains and worsen the situation in global energy markets, Maria Zakharova, spokeswoman for Russia’s Foreign Ministry, said on Wednesday.
 Maria Zakharova, spokeswoman for Russia’s Foreign Ministry (Photo: AFP/VNA) |
Zakharova insisted that the introduction of a ceiling on Russian oil prices is not just a non-market mechanism, it is an anti-market measure. She said Russia will not supply oil to countries that impose a price cap.
In September, the Finance Ministers of the G7 agreed to impose a price cap on Russian oil, under which the price limit will be applied starting December 5th to oil and starting February 5th next year to oil products.
EU members haven’t yet reached a consensus on the ceiling on the price of Russian oil transported by sea proposed by the G7, under which the EU and other customers will continue to buy Russian oil only at a price equal to or below the agreed G7 level of 65-70 USD/barrel.