Russia says it won’t accept oil price cap

Russia “will not accept” a price cap on its oil and is considering how to respond, the Kremlin said in comments published on Saturday, reacting to a deal by Western powers seeking to cap a key source of war funding from Russia. Moscow against Ukraine.

Kremlin spokesman Dmitry Peskov said Moscow had made preparations for Friday’s price cap announcement by the G7 nations, the European Union and Australia, according to Russian state news agency Tass.

“We will not accept this limit,” he said, according to the RIA news agency. He added that Russia would conduct a quick review of the deal and respond shortly, according to RIA.

Russia has repeatedly said it will not supply oil to countries that implement the cap – a position that was reinforced by Mikhail Ulyanov, Moscow‘s ambassador to international organizations in Vienna, in posts on social media on Saturday.

“Starting this year, Europe will live without Russian oil,” he said.

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Translated to english by RJ983

From Brazil, by EBC News