Russia prepares response to EU’s price cap on Russian oil — Kremlin

MOSCOW, SANA Moscow is preparing a response to the EU embargo on Russian oil supplies and the introduction of a price cap on it in the West, Russian presidential spokesman Dmitry Peskov said on Monday.

“The decision is being prepared,” Peskov replied to the question about when Moscow’s response could be expected. “One thing is obvious – we will not recognize any price caps,” he stressed.

Commenting on statements from the United States that “nothing will change” after such decisions are made, Peskov said, “It will change. One thing is obvious and indisputable – adopting these decisions is a step towards destabilizing world energy markets.”

On December 5, the EU’s embargo on Russian oil shipments by sea and its $60 a barrel cap on seaborne Russian crude became applicable. The G7 and Australia joined the EU price ceiling. A number of European experts worry that the measure will negatively affect the global economy. Russia warned earlier that it would not sell its crude under the conditions envisaged by the price cap, even if forced to cut production.

Bushra Dabin /Baraa Ali

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