Russia will not supply oil to countries introducing price cap

 

Russia does not plan to supply oil or petroleum products to countries that will introduce the price cap, Deputy Prime Minister Alexander Novak told reporters.

"Russia confirms its status of a reliable energy supplier on the global market and the market status of our relations with partners. In this regard we do not plan to supply oil and petroleum products to countries that will use the price cap principle, with further refocusing of supplies to market-orienting partners or with the production reduction," Novak said.

The introduction of price caps for energy resources and energy sector politicizing can only lead to a deficit and problems with energy supplies, the official said.