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(SKy News) Russia rejects oil price cap and warns 'Europe will live without Russian oil'
Russia has rejected a price cap on its oil, with a spokesperson warning "Europe will live without Russian oil".
We reported earlier that the Group of Seven nations plus Australia had joined the EU in adopting a $60-per-barrel price cap on Russian oil. The move is part of Western efforts to reorder the global oil market to prevent price spikes - and starve President Vladimir Putin of funding for his war in Ukraine.
However, Kremlin spokesman Dmitry Peskov said Moscow "will not accept this cap", according to the RIA news agency. He said Russia would conduct a rapid analysis of the agreement and then respond.
Moscow's permanent representative to international organisations in Vienna, Mikhail Ulyanov, warned the cap's European backers would regret their decision. “From this year, Europe will live without Russian oil," Mr Ulyanov tweeted. "Moscow has already made it clear that it will not supply oil to those countries that support anti-market price caps. Wait, very soon the EU will accuse Russia of using oil as a weapon.”
Russia has rejected a price cap on its oil, with a spokesperson warning "Europe will live without Russian oil".
We reported earlier that the Group of Seven nations plus Australia had joined the EU in adopting a $60-per-barrel price cap on Russian oil. The move is part of Western efforts to reorder the global oil market to prevent price spikes - and starve President Vladimir Putin of funding for his war in Ukraine.
However, Kremlin spokesman Dmitry Peskov said Moscow "will not accept this cap", according to the RIA news agency. He said Russia would conduct a rapid analysis of the agreement and then respond.
Moscow's permanent representative to international organisations in Vienna, Mikhail Ulyanov, warned the cap's European backers would regret their decision. “From this year, Europe will live without Russian oil," Mr Ulyanov tweeted. "Moscow has already made it clear that it will not supply oil to those countries that support anti-market price caps. Wait, very soon the EU will accuse Russia of using oil as a weapon.”
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