Russia will not supply oil to countries that supported the price ceiling

Russia will not supply oil to countries that supported the price ceiling
Russia will not supply oil to countries that supported the price ceiling

Russia will stop supplying oil and oil products to countries that impose price caps of Russian oil.

This was stated by the Deputy Prime Minister to reporters Alexander Novak, quoted by “Interfax”. The introduction of such a limit in order to retain the oil prices and limiting Russia’s income is being discussed in the world at the initiative of the USA.

“As for the price cap: if they put it in, we will we simply will not supply our oil and oil products to such companies or countrieswhich will introduce restrictions, because we will not work under non-market conditions,” Novak said.

Novak also noted that has not heard the view that India and China could join the embargo on purchases of Russian oil.

According to Novak’s comment the introduction of this mechanism would “completely destroy the market“.

“I think it is complete absurdity. The intervention in the market mechanisms of such an important industry as the oil industry, which is from crucial to ensuring the world’s energy security, will only lead to destabilization of the oil industry, the oil market. The same consumers, European and American, who are already paying high prices today, will pay for this in the first place,” warned Novak.

“We haven’t heard not a single positive response from oil producers participating in the marketof this absurdity, which is being discussed by everyone,” said the Deputy Prime Minister.

Commenting on the fact that in December, EU sanctions on purchases of Russian oil will come into forceNovak said that Russian companies “know about December and are preparing for it”.

“I hope that in any plans they have, they will take December into account. All plans are designed to maintain current levels,” Novak said.

We recall the embargo imposed by the EU on the purchase of Russian oil by sea enters effective December 5 2022

In March, the US banned oil imports from Russia.

Expected tomorrow, September 2, finance ministers from the G-7 to discuss the possibility of imposing a price ceiling on Russian oil. There are divergent theses – that if the cap is not introduced, a global rise in energy prices will begin if most of Russian oil is unavailable. German Chancellor Olaf Scholz expressed confidence that such a mechanism must be approved by the majority of the international community, otherwise it will not work.

USA: The G7 is considering a ceiling on the price of Russian oil

A price cap would be the biggest blow to Putin

The article is in bulgaria

Tags: Russia supply oil countries supported price ceiling

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