MOSCOW: Russia declared on Monday that the Western-imposed price cap on its oil exports will not affect its Ukraine offensive.
The sixty dollars per barrel price cap agreed by G7, European Union (EU) and Australia aims to restrict Russia’s revenue while making sure at the same time to keep its supply to the global market.
The Kremlin spokesperson Dimitry Peskov said that Russian economy had all the required potential to meet the needs of the special military operation. These western measures are unable to affect its move.
Kremlin: Western move will change oil prices Cap
Dimitry Peskov said that his country will not recognize the measures. Western countries’ decision to impose price cap on Russian oil is a step towards destabilizing the global energy markets and it will change oil prices.
Western countries spearheaded a number of measures against Russia after it started a military operation against Ukraine in February and the price cap is the latest in the series that was announced at a time when EU’s embargo on seaborne deliveries of Russian crude oil comes into force.
The embargo will ban Russian crude oil’s seaborne shipments to the EU, which is two-thirds of the bloc’s oil imports from Moscow. It will deprive Russia of billions of euros. –APP/AFP
