LAST UPDATE: 20.36
Russia will stop deliveries of oil and oil products to countries that decide to curb the cost of Russian oil, Russian Deputy Prime Minister Alexander Novak said, according to Russian news agency TASS.
“Regarding the ceiling on prices. If they impose a ceiling, we simply to such companies or countries that will impose restrictions, we will not supply them with oil and oil products, because we will not work uncompetitively,” Novak emphasized.
At the same time, Novak called the proposals to impose a ceiling on the price of Russian oil “complete nonsense”. “This intervention in the market mechanisms of such a critical industry as the oil industry, which is critical to ensuring the energy security of the entire world, such efforts will only lead to the destabilization of the oil market,” he added, stressing that first of all all European and American consumers, who today already pay high prices for energy resources, will pay for this measure.
“Something like this will completely disrupt the market,” stressed the deputy prime minister.
None of the OPEC+ countries, as well as India and China, have supported the idea of capping Russian oil, Novak said. “I have not heard, at least not from China and India, that they support this idea. We have not heard a single positive response from other oil producers participating in the market about this nonsense that is being discussed,” he added.
Source: Capital
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.
