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Russia said on Tuesday that it has “no doubt” that it will find new buyers for its oil in the coming months, despite the fact that Western countries have created a mechanism for capping the price of Russian oil.
“I have no doubt that there will be buyers for our products“ oil ”, – said the deputy.Minister of Foreign Affairs of RussiaSergei Ryabkov, quoted by Russian news agencies.
On Friday, European Union (EU), the G7 countries and Australia announced the introduction, starting last Monday, price caps Russian oil for export, $60 each. A measure that, according to Ryabkov, will “split” the world economy “in many directions.”
In the opinion of Westerners, by their initiative they seek to limit Russia’s income in order to reduce its financial possibilities for military intervention in Ukraine.
The mechanism provides that Russian oil sells for $60 a barrel or less. If the price is higher, companies located in countries EuropeG7 or Australia will be prohibited from offering their maritime transport services, which include trading, freight, insurance, shipowners, etc.
G7 countries provide insurance services for 90% of the world’s cargo, and Europe is a leading player in the shipping industry.
For his part, Russian Deputy Prime Minister for Energy Alexander Novak, who has already warned that Russia stop supplying oil to countries using the Westerners’ initiative, he repeated on Tuesday, that this “will lead to even more significant price increases” in world markets.
According to Novak, the installed ceiling “is not a tragedy” for Russia.
“Commercial companies will find mechanisms for selling affected products among themselves,” he said, although he did not rule out that Russia export less oil in the coming months due to the “uncertainty” associated with the cap mechanism.
AFP
Source: RPP
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