Siluanov: it is not yet possible to assess the impact of the oil price ceiling on the Russian budget
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The Russian authorities are preparing countermeasures in response to the introduction by Western countries of a ceiling on prices for oil supplies from Russia, Russian Finance Minister Anton Siluanov said. In his opinion, it is still impossible to assess the impact of the restrictive measure on the Russian budget.
“For the time being, it is premature to talk about the impact on the budget … Now the government of the Russian Federation is formulating retaliatory measures. We, as the President of the Russian Federation has stated, will not sign contracts that will mention price regulation and price ceilings,” Mr. Siluanov told reporters, describing the price ceiling as a “non-market mechanism”.
The minister stressed that Russia’s response decisions will take effect “in the near future.”
December 6 Bloomberg, citing sources reportedthat Russia is considering the introduction of a “price floor” for oil as a response to the “price ceiling” of the EU, G7 and Australia at $60 per barrel of Russian oil. The development of a mechanism to ban restrictions on Western countries was previously reported by Russian Deputy Prime Minister Alexander Novak.
About Russia’s retaliatory measures – in the material “Kommersant FM” “Russia is preparing a response under the conditions of the limit”.
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