Russia Will Supply Oil To Those Supporting Market-Based Pricing - Novak

Russia Will Supply Oil to Those Supporting Market-Based Pricing - Novak

Russia will continue to supply oil only to those consumers who will ensure market-based pricing mechanisms, Russian Deputy Prime Minister Alexander Novak told reporters after the OPEC+ meeting, commenting on the possible price cap of the EU

VIENNA (Pakistan Point News / Sputnik - 05th October, 2022) Russia will continue to supply oil only to those consumers who will ensure market-based pricing mechanisms, Russian Deputy Prime Minister Alexander Novak told reporters after the OPEC+ meeting, commenting on the possible price cap of the EU.

"Such precedents will greatly harm the energy market, it will only lead to shortages, to higher prices," Novak said. "We believe that it is not advisable for us to provide supplies with the introduction of such an instrument to those consumers who will use price caps. We will continue to supply only to those who provide market-based mechanisms of pricing."