Warning from Russia to Western countries

Kremlin spokesman Peskov spoke about Europe’s decision on the maximum price and said that they would react to it.

Russian Deputy Foreign Minister Sergei Ryabkov said: “The United States, which resorts to such methods and forces its European allies to comply with their own decisions, is cutting the branch, because what kind of globalization can we talk about after what happened?” said.

There have been consistent statements from Russia regarding the application by the G7 countries of the maximum price for Russian oil of $60.

According to Russian news agency RIA, Kremlin spokesman Dmitry Peskov said that Russia has many options on how to respond to the “price ceiling” and they are discussing all options.

Deputy Foreign Minister of Russia Sergei Ryabkov also made statements on this subject. In a statement, Ryabkov said: “The United States, which resorts to such methods and forces its European allies to implement their own decisions, is cutting the branch, because what kind of globalization can we talk about after what happened?” said. Ryabkov said: “We will definitely find an opportunity to sell our products. Those who plan to once again damage Russia’s interests will be left with nothing. The result may be a new rise in prices in Western markets, new rises in prices for Western consumers,” he added.

The G7 countries and the EU were negotiating the introduction of a maximum price for Russian oil. Last week, the G7 proposed setting a maximum price for oil transported by sea from Russia at $65-70 per barrel.

The EU Commission has proposed setting a price ceiling of $60 per barrel for oil transported from Russia by sea in order to reach consensus in negotiations between member states.

In addition, a new price cap mechanism will be established in addition to the maximum price of $60 for Russian oil. The mechanism will ensure that the maximum price for Russian oil is kept 5% below world market prices.

The maximum price announcement came into effect on December 5, when the EU’s decision to cut crude oil supplies from Russia by sea comes into effect. Russia produces about 10 percent of the world’s oil production.

Russian Deputy Prime Minister Alexander Novak said that they would not sell oil and oil products to countries that apply price caps: “We are working on mechanisms that will prohibit the use of price cap instruments.” said.

In a statement to the Russian state channel Russia 24, Novak praised the European Union (EU) agreement to apply a maximum price of $60 per barrel to oil transported by sea from Russia.

Stressing that Russia will continue to sell oil in accordance with market conditions, Novak said: “Even if we have to cut oil production, we will only sell oil and oil products to countries that work with us on market terms.” used the phrase.