Russian Deputy Prime Minister Alexander Novak stressed that Western sanctions on energy supplies from Russia are not well received, and Russia will not supply oil to countries that set a price ceiling.
Novak said during the fourth Russian-Chinese energy business forum that Russia will not supply oil to countries under a price ceiling, even if it is more profitable.
“This is unacceptable in principle from the point of view of concluding contracts,” Novak said.
Novak stressed that Russia does not plan to soften its position on this issue, and supplies will be stopped even if exports are more profitable under the price ceiling.
Novak added that the initiative of Western countries to set a price ceiling for Russian oil entails serious risks, including a possible shortage of energy resources, and not only in the oil and gas market, this will affect any commodity of exchange that Western countries want to set their rules. “.
He explained that Western sanctions on energy supplies have not been clearly studied.
Novak noted that: “An embargo on the supply of equipment and technologies has been introduced, there is interference and the imposition of its own rules in matters of energy transfer, insurance, cash settlements and financing.”
Source: TASS