The Kremlin announced, on Saturday, that Russia “will not accept” the price ceiling imposed by the European Union and the Group of Seven countries on its oil exports.
Yesterday, Friday, the G7 countries agreed to apply a maximum price of $60 per barrel of oil transported by sea from Russia, and the European Union took a similar decision, according to a group statement.
Kremlin spokesman Dmitry Peskov told reporters in Moscow: “We are currently analyzing the situation. Of course, preparations have been made to confront this ceiling.”
He added, “We will not accept this ceiling, and after a quick analysis, there will be a decision on how to organize the work later.”