Business & Economy

Russia refuses to sell specific oil with price cap

Russian Deputy Prime Minister Alexander Novak confirmed that Moscow would not export oil subject to a price cap imposed by the West even if Moscow had to cut its crude production.
“We are working on mechanisms to prohibit the use of a price cap regardless of the specific level, because such intervention can further destabilize the market,” Novak said.
Russia would not operate under a price cap even if it had to cut production.

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