Novak: The idea of ​​introducing restrictions on Russian oil will lead to higher prices

Russian Deputy Prime Minister Alexander Novak stressed that the idea of ​​the West to set a ceiling on the price of Russian oil is just another political decision that will lead to market failure and higher prices.

The statement of the Deputy Prime Minister of Russia sounded like a commentary on the agreement of the leaders of the G7 countries in the future to put an end to the prices of imported Russian oil in order to reduce Russia’s income.

He said in a TV interview today, Thursday: “In my opinion, this is another attempt to interfere in the market mechanisms, which can only lead to market imbalance and energy shortages, which, in turn, will lead to higher prices for consumers. led by the Europeans and the G7 countries.”

He added that such a measure would have a negative impact on its authors, as this has already happened repeatedly, and said: “This measure is directed against its authors, as it has already happened repeatedly. Of course, these are ill-conceived and economically unjustified measures. “

An example of a political decision hurting consumers in Europe is the ban on Russian coal, which led to higher coal prices in light of a shortage of supply coinciding with an increase in demand for coal. this, according to Novak.

Source: RIA Novosti

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