Siluanov warned about the consequences for the global market because of the price ceiling
Photo is illustrative in nature. From open sources.
Anton Siluanov
The introduction of an oil price ceiling is a non-market measure that will have implications for the global market, Finance Minister Anton Siluanov said, TASS reports.
“It is clear that these are non-market mechanisms. The West has always urged us to use transparent, market-based measures influencing the economy. <...> You can’t deceive the market: if there is regulation somewhere, then, on the other hand, there will also be an impact on prices, consumption volumes in the market, and so on,” the minister said.
it is too early to assess the impact on the Russian budget from the introduction of the oil price ceiling, Siluanov said.
The price ceiling for Russian oil at $60 per barrel was introduced by the G7 countries ( usa , UK, Germany, France, CANADA, Italy and Japan), as well as Australia and the European Union, the measure came into force on December 5. The purpose of the limit is to reduce Russia's income and affect its ability to finance a special operation in Ukraine.
Western countries have set a price ceiling for Russian oil.What does it mean Business
Russian President Vladimir Putin has said that RUSSIA will not supply energy to countries whose authorities will make political decisions that are contrary to the terms of contracts for the supply of oil. Deputy Prime Minister Alexander Novak also said that if restrictions were imposed, Moscow would redirect supplies to "market-oriented partners" or reduce production.
Presidential spokesman Dmitry Peskov called the decision by Western countries "a step towards destabilizing global energy markets", said that Russia does not recognize such restrictions, and said that a retaliatory measure was "prepared". Moscow is considering imposing a fixed oil price or a maximum level of discount to international brands at which they can be sold, BLOOMBERG reported, citing two people familiar with the plan.
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