Russia will not supply oil to countries that decide to cap the price of its product, Elvira Nabiullina, head of Russia’s central bank, said at a news conference on Friday.
Nabiullina added that the proposal by the G7 countries to remove Russia’s energy revenues in a bid to limit Moscow’s options for funding its military campaign in Ukraine will also boost global oil prices.
“As far as I am concerned, we will not supply oil to those countries that impose such a ceiling and our oil and its derivatives will be redirected to countries that are ready to cooperate with us,” said Nabiullina.
The price cap scheme, which was first proposed by US Treasury Secretary Janet Yellen, could be imposed on half of the Russian acquisition price, but the form of the final agreement and price level are yet to be announced.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
