The Russian government threatened this Thursday to stop oil supplies to countries that decide to limit the price of this fuel.
“If they limit prices, we simply will not supply oil and oil products to companies or countries that impose restrictions,” said Russian Deputy Prime Minister Alexander Novak.
Novak believes that “interference” in the market mechanisms of the oil industry will only destabilize it.
According to a Kremlin insider, this will force European and North American consumers, who already pay dearly for oil, to pay even higher prices.
On Wednesday, US Treasury Secretary Janet Yellen expressed optimism after meeting with her British counterpart Nadeem Zahavi regarding the progress of the G7 negotiating groups to agree on a price ceiling for Russian oil.
Yellen believes the measure would reduce the revenue Putin “needs” to continue the war in Ukraine, reducing energy price pressure on citizens.
Novak noted that countries such as China or India, where Russia redirected part of its exports after the embargo agreed by the European Union a few months ago, do not support the idea of capping oil prices.
Author: Lusa
Source: CM Jornal
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
