“We will not accept this cap”the RIA news agency said. He added that Russia would carry out a quick analysis of the agreement and respond later, RIA reported.
Russia has repeatedly said that will not supply oil to countries that apply the capa position reaffirmed by Mikhail UlyanovMoscow’s ambassador to international organizations in Vienna, in social media posts on Saturday.
“Starting this year, Europe will live without Russian oil”said.
G7 price cap will allow non-EU countries to continue importing Russian crude by seabut will prohibit shipping companiesinsurance and reinsurance handle shipments of Russian crude all over the world, unless it sells for less than $60. This could complicate the shipment of Russian crude at a price above the limit, even to countries that are not part of the agreement.
Russian Ural crude was trading around $67 a barrel on Friday. On Monday, December 5, the new cap will take effect.
The United States Secretary of the Treasury, Janet Yellensaid that the cap will benefit especially to the low- and middle-income countries that have borne the brunt of high energy and food prices.
“With the Russian economy already shrinking and its budget tightening, the price cap will immediately cut the most important source of income of (President Vladimir) Putin,” Yellen said in a statement.
In comments posted on Telegram, the Russian embassy in the United States criticized what it called the “dangerous” Western move and said that Moscow would continue to look for buyers for its oil.
“Steps like these will result in unavoidable increase in uncertainty and the imposition of higher costs for consumers of raw materials,” he said.
“Regardless of the current dalliances with the dangerous and illegitimate instrumentwe are confident that Russian oil will continue to be in demand.”
Source: Ambito
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