MOSCOW (Pakistan Point News / Sputnik - 03rd December, 2022) Russia will not accept the price cap imposed on Russian oil abroad, but will analyze it and decide how to operate under new circumstances, Kremlin spokesman Dmitry Peskov said on Saturday.
On Friday, the European Union reached an agreement on setting a price cap on Russian oil at $60 per barrel. The agreement reportedly provides for a review mechanism to keep the price cap at 5% below the market value. The G7 nations and Australia also agreed to set a $60 price ceiling on oil from Russia, which will enter into effect on December 5.
"We will not accept this ceiling. How will we organize the work? We will make a relevant announcement after an analysis, which will be done promptly," Peskov told reporters.
Moscow was anticipating the price cap and is now analyzing the situation, the spokesman said.
