Russia Won’t Sell Oil to Countries That Impose Price Caps

by Chris Black

Russia seems to be ready to shut off the gas as soon as winter starts and just totally cripple Europe.

It didn’t have to be this way.

We could have all just been friends.

twitter.com/politblogme/status/1565662457611407362

Reuters:

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The Kremlin said on Friday that Russia would stop selling oil to countries that impose price caps on Russia’s energy resources – caps that Moscow said would lead to significant destabilisation of the global oil market.

“Companies that impose a price cap will not be among the recipients of Russian oil,” Kremlin spokesman Dmitry Peskov told reporters in a conference call, endorsing comments made on Thursday by Deputy Prime Minister Alexander Novak.

“We simply will not cooperate with them on non-market principles,” Peskov said.

Group of Seven (G7) finance ministers were due to meet virtually on Friday and were expected to firm up plans to impose a price cap on Russian oil purchases with the aim of reducing the revenues flowing to Moscow.

 

European Commission head Ursula von der Leyen said on Friday it was time for the EU to consider a similar price cap on Russian gas purchases.

 

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