After the Russia-Ukraine war, the Western sanctions against Russia led to an energy crisis.
In this context, Russia started counter-sanctions such as the obligation to use rubles in sales.
According to the news of AA, Russian Deputy Prime Minister Aleksandr Novak evaluated the new developments on the subject in the capital Moscow.
“Ceiling price will completely destroy the market”
Novak, In his statement to reporters, he reminded the attempts of the G7 countries, especially the USA, to implement a ceiling price for Russian oil.
Describing these attempts as “nonsense”, Novak said, “Interfering in the functioning of the oil market, which ensures the energy security of the world, will cause destabilization of this market. It will completely destroy the market.” said.
No oil for those who support the ceiling price
Novak stressed that if restrictions are imposed on the price of Russian oil, they will respond, “Then we will also impose restrictions. We will not supply oil and oil products to such companies or countries because we will not operate in non-market conditions.” he said.
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.