Russia threatened this Thursday to suspend supplies of oil and petroleum products. Oil countries that decided to limit the price of Russian oil.
“If price restrictions are introduced, we simply will not supply Oil and oil products to companies or states that impose them, as we will not operate in a non-competitive manner,” Deputy Prime Minister Alexander Novak said in statements compiled by the official TASS news agency.
G7 finance ministers (US, Germany, France, UK, Italy, Canada and Japan) will discuss the idea of capping export prices on Friday Oil Russia to prevent the Kremlin from taking big profits when the price of a barrel of crude oil rises.
“It will destabilize the oil market”
Novak called proposals to limit the price Oil from Russia as “completely absurd”, adding that the move could completely destroy the global oil market.
“Intervention 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, only destabilizes the oil market,” he said.
Novak noted that those European and American consumers who are already paying high energy prices will be the first to pay for this measure.
“This will completely ruin the market,” the vice-premier emphasized.
(As reported by EFE)
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Source: RPP
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