Putin said capping the price of Russian oil would have dire consequences

Russian President Vladimir Putin commented for the first time on the West’s attempt to impose restrictions on the cost of crude oil from Russia.

In a telephone conversation with Iraqi Prime Minister Mohammed Sudani, Putin stressed that “such actions are contrary to the principles of market relations and are highly likely to lead to grave consequences for the global energy market,” the Kremlin’s press service reported.

It should be noted that the G7 countries agreed on the introduction of a price ceiling for Russian oil back in September. They had planned to announce their decision on November 23, but negotiations stalled over disagreements over a price cap. The Baltic countries and Poland, according to the Russian edition of Forbes, object to the ceiling of $65 per barrel, and the countries with developed shipping, such as Malta and Greece, are opposed to the limit being lower than $70 per barrel.

By Editor

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