Russia will not supply oil to the world market if a price cap is imposed, Interfax news agency quoted Deputy Prime Minister Alexander Novak as telling Russian television on Wednesday.
U.S. Treasury Secretary Janet Yellen is pushing for the cap to drive down oil prices and make it harder for Moscow to fund its war in Ukraine. “If these prices that they are talking about are lower than the cost of producing oil, then of course Russia will not ensure the supply of this oil to world markets. This means we are simply not going to work at a loss,” Interfax cited Novak as saying.
Russian President Vladimir Putin told reporters earlier in the day that oil prices would skyrocket if a cap were imposed. Brazil, China, India and some African and Middle Eastern countries have increased energy imports from Russia, which sells at deep discounts to global benchmarks because many European refiners have stopped buying Russian oil.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
Concora Credit cardholders can quickly activate their credit card at concoracredit.com, through the mobile app,…
Facing a 504 Gateway Timeout error on your website? Learn what causes this problem and…
Discord showing “Stuck on Starting” is usually a small local error, not a global outage.…
Star Citizen Error Code 19005 is an account login timeout issue where the RSI Launcher…
Flash_status_error_universal on the OPPO and OnePlus Flash Tool usually happens due to wrong firmware, outdated…
Disney+ Error Code 83 usually happens due to device compatibility or internet issues. Restart your…