Deputy Prime Minister of Russia Alexander NovakIn a statement to journalists in the capital Moscow, the G7 countries, especially the USA, evaluated the attempts of the G7 countries to implement a ceiling price for Russian oil.
These attempts”nonsenseDescribing Novak as “Interfering with the operation of the oil market, which provides the world’s energy security, will cause destabilization of this market. This will completely destroy the market” said.
Emphasizing that if restrictions are imposed on the price of Russian oil, Novak said, “Then we will also impose restrictions. We will not supply oil and petroleum products to such companies or countries because we will not work in non-market conditions.”
Deputy Prime Minister Novak added that the Organization of Petroleum Exporting Countries (OPEC) and the OPEC+ group, which consists of some non-OPEC producer countries, China and India do not support the initiative in question.
G7 countries, especially the USA, want to impose a ceiling price on Russian oil in order to reduce Russia’s energy revenues.
US Treasury Secretary Janet Yellen, in a statement yesterday, expressed optimism about the significant progress made in the implementation of the Russian oil price cap.