Russian Deputy Prime Minister Alexander Novak said that Moscow has a tough stance on the oil price limit – it is unacceptable, regardless of the level.
“We have a rather tough position here … No matter what the price ceiling is. Even if it is high, this is unacceptable in principle from the point of view of concluding contracts”– said the Deputy Prime Minister during his speech at the IV Russian-Chinese Energy Business Forum.
Novak also said that the introduction of a cap on oil prices from Russia would create many risks in the market, including a shortage of supply.
“These actions entail huge risks for the functioning of the industry, provoking a shortage of energy resources and investment in the industry, and not only in the oil industry. This will affect any exchange commodity for which Western countries will want to introduce their own rules in the future”he thinks.
Novak also pointed out that the sanctions imposed by the West are thoughtless and impose their own rules on such key issues as transportation, insurance, financing of world energy resources.
Recall, on November 4, Bloomberg, citing sources, reported that the negotiations of the EU countries on the introduction of the proposed G7 restriction on the cost of oil from the Russian Federation reached an impasse, as the opinions of the representatives of the countries diverged. The agency noted that the Baltic countries and Poland did not want to agree on a price ceiling for Russian fuel in the region of $65 per barrel. These states considered such a proposal “too generous” for the Russian Federation.
The head of the Ministry of Industry and Trade of the Czech Republic, Josef Sikela, said earlier that negotiations on this issue would be resumed on December 13.
On November 27, the press secretary of the Russian president, Dmitry Peskov, recalled that Moscow’s position is not to trade oil and gas with countries that intend to impose a price ceiling on energy resources from the Russian Federation.
