Russian Deputy Prime Minister Novak, who is in charge of energy work, said on the 1st that Russia will not supply oil and petroleum products to countries that support oil price limits for Russia, and Russia refuses to supply oil to foreign countries under non-market conditions.
The TASS news agency quoted Novak as saying that the G7’s plan to limit the price of Russian oil is absolutely ridiculous. Trying to interfere with the market mechanism of such an important industry will not only lead to its instability, but also threaten the entire oil market. could lead to a global energy security disaster.
Nowak stressed that consumers in Europe and the United States will pay the price. They have already paid a high price due to Western sanctions against Russia. Novak said that the Russian oil industry is preparing for the possibility that EU countries will impose an oil embargo on Russia.
White House Press Secretary Karina Jean-Pierre said on August 31 that the G7 finance ministers will discuss U.S. President Biden’s proposal to set a price ceiling on Russian oil when they meet on September 2.
Russian President Vladimir Putin previously said that the G7’s proposals to restrict oil imports from Russia and set price ceilings on Russian oil will only cause oil prices to soar like natural gas prices. Novak said in July that Russia would not supply oil at a loss if the Group of Seven countries imposed price limits on Russian oil.
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