The Kremlin called the introduction of a ceiling on Russian oil prices absurd

The introduction by the G7 countries and the EU of a price ceiling on Russian oil imports was an absurd step, and Russia will soon introduce retaliatory measures, declared Press Secretary of the President of the Russian Federation Dmitry Peskov in an interview with Izvestia.

“An expert discussion is underway, it is already nearing completion, and I hope that in the near future a decision will be made public on what Russia will do in response to such, from our point of view, absolutely absurd steps,” he said.

The Kremlin spokesman also stressed that the substitution of market relations that has taken place is fraught with problems for the markets in the medium term. According to him, Russia will not trade oil with countries that have supported the price ceiling.

The EU countries agreed on a price ceiling for Russian oil of $60 per barrel on December 3. The next day, the relevant document was published in the Official Journal of the EU. Limitation entered into force on December 5, along with a ban on the supply of Russian oil by sea to the EU countries. In addition to the EU countries, the G7 countries, Norway and Australia also joined the ceiling.

Russian authorities have repeatedly said that Moscow will not supply fuel to countries that set a price cap or join the cap. The Kremlin said they do not accept the introduction of restrictions. As before wrote Vedomosti, the authorities are developing three scenarios to respond to the cap on Russian oil prices. Peskov, commenting on this information, noted that the authorities consider various options, and stressed that the decision would be announced after it was adopted.