Monitoring Desk
MOSCOW: Russia warned Friday of a further disparity to world energy markets ahead of an EU embargo on Moscow oil products due to come into force this weekend.
EU ban on Russian oil
A European Union-wide ban on Russian oil petroleum products, including gasoline, diesel, and jet fuel, is set to come into effect on Sunday. It will increase an EU embargo on seaborne deliveries of Russian oil that was initiated in December 2022.
Kremlin spokesman Dmitry Peskov told reporters on Friday that this will lead to a further disparity in the global energy markets but they are taking steps to hedge their interests against the risks linked.
G7, the EU, and Australia have already implemented a price ceiling on Russian oil exports. Moscow said that the oil price cap would not impact its military drive in Ukraine and, in response, banned oil sales to nations and firms that comply with the step.
