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Russia delays petroleum products delivery to nations agreed on price cap
(MENAFN) Russia will stop petroleum products delivery to nations that have joined cap costs of Russian oil, Russian Tass News Agency cited Deputy Premier Alexander Novak as saying on Thursday.
Novak’s comments came ahead of a conference of G-7 finance ministers later Friday to talk over a worldwide cost cap on Russian oil to delay the nation's main source of money and help push its oil prices.
"As far as price restrictions are concerned, if they impose restrictions on prices, we will simply not supply oil and petroleum products to such companies or states that impose restrictions as we will not work non-competitively," Novak informed journalists.
Novak is serious for the EU’s hard work to cap Russian oil, calling the move “completely absurd”, while saying it could destroy the worldwide oil market.
"Interference in the market mechanisms of such an important industry as the oil industry, which is the most important in terms of ensuring the energy security of the whole world, such attempts will only destabilize the oil industry, the oil market," he added.
Novak’s comments came ahead of a conference of G-7 finance ministers later Friday to talk over a worldwide cost cap on Russian oil to delay the nation's main source of money and help push its oil prices.
"As far as price restrictions are concerned, if they impose restrictions on prices, we will simply not supply oil and petroleum products to such companies or states that impose restrictions as we will not work non-competitively," Novak informed journalists.
Novak is serious for the EU’s hard work to cap Russian oil, calling the move “completely absurd”, while saying it could destroy the worldwide oil market.
"Interference in the market mechanisms of such an important industry as the oil industry, which is the most important in terms of ensuring the energy security of the whole world, such attempts will only destabilize the oil industry, the oil market," he added.
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