Peskov: Moscow will not accept price cap on Russian oil

Moscow will not accept a price cap on Russian oil, Kremlin Spokesman Dmitry Peskov told reporters.

“We are assessing the situation. Certain preparations for such a cap were made. We won’t accept the price cap and we will inform you how the work will be organized once the assessment is over,” the Kremlin spokesman said, commenting on the EU’s decision.

On Friday, European Union countries agreed to cap the price of Russian seaborne oil at $60 a barrel. Members of the G7 group and Australia announced similar measures.

Russian embassy to USA: Price cap for Russian oil reshapes basic free market principles

The price cap for Russian oil, introduced by the United States and its partners, means in practice that the basic principles of the free market are being reshaped, the Russian embassy to the United States said in a statement.

“We took notice of the U.S. administration’s arrogant claims regarding the agreement with its partners on the notorious “price cap” on Russian oil,” the embassy said. “Strategists in Washington, hiding behind noble slogans of ensuring energy security for developing countries, maintain a wall of silence on the fact that current imbalances on the energy markets stem from their ill-conceived actions. First of all – the introduction of sanctions against Russia and bans on energy imports from our country.”

Source: Itar Tass

Edited by Hamda Mustafa