Russia plans reply on price limit for Russian oil cap from EU, G7

(MENAFN) Moscow on Monday stated that it is setting a reply to a price limit on its oil by the EU and Group of Seven, as a sanction on imports for Russian seaborne oil came into action.

The West stats that the limit of USD60 a barrel is targeted at capping Russia’s capability to fund its conflict on Ukraine that began in February.

"The decision is being taken," Kremlin representative Dmitry Peskov informed a press meeting, in reply to an enquiry around when Moscow's reply might be predicted in contradiction of the verdict.

Pointing out that Russia is not going to recognize “any ceilings,” Peskov stated that the adoption of such verdicts are “a step towards destabilizing the world energy market.”

Peskov mentioned the Russian economy has the possible to encounter all the needs of the “special military operation” in Ukraine, as well as that the oil price cap is not going to impact this.

“Sanctions against Russia cause obvious harm to European countries, it is unprofessional to deny it,” Peskov stated, also mentioning that restrictions have brought positive issues to Russia, but they are not of a vital nature.


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