RT: Russia won’t accept oil price cap – Kremlin
The EU and G7 have agreed to a $60 per-barrel ceiling for the purchase of Russian crude
Moscow is not planning to recognize a Western-imposed price cap on Russian seaborne oil exports, Kremlin spokesman Dmitry Peskov said on Saturday, adding that the government is currently carrying out a review of the situation.
“Now we are analyzing,” Peskov told journalists. “Some preparation was carried out for such a ceiling. We will not accept this ceiling, and we will provide further information on how the work will be organized after the review.”
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WNU Editor: Ukraine President Zelensky wanted a lower cap …. Ukraine war: Zelensky calls West’s Russian oil cap ‘weak’ (BBC).
As to what is my take.
Russia will sell it’s oil to other buyers. As for the rest of us. This move will dislocate markets and will probably result in a spike in oil prices. What may save us from a prolonged price increase is a recession. All the signs are there for a major global recession in 2023, and that will definitely bring down the price of oil.
Kremlin Says It Won’t Accept A $60 Price Cap On Its Oil
Moscow will not accept price cap on Russian oil — Kremlin spokesman — TASS
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs — AP
Russia will ‘not accept’ price cap on oil exports, Kremlin warns — France 24
Russia says it won’t accept oil price cap and is preparing response — Reuters
Kremlin rejects EU’s $60 price cap on Russian oil — UPI
Russia Won’t Accept $60 Price Cap on Its Oil, Kremlin Says — Bloomberg
Russia rejects $60 oil price cap, warns of response — Al Jazeera
Europe to live without Russian oil, says Russian envoy — TASS