Kremlin spokesman Dmitry Peskov said Moscow would not accept a price cap on maritime Russian oil coordinated by the European Union and the G7.
“We are assessing the situation. Some preparations were made for such a range. We will not accept the price range and we will inform you how the work will be organized after the evaluation is over,” Peskov said on Saturday. ” TASS report,
EU countries on Friday Agreed To impose a $60 cap on Russian oil prices, which was later agreed upon by the G7 and Australia supported Too.
The aim, said European Commission President Ursula von der Leyen, is to bolster Russia’s oil revenues while stabilizing global energy prices.
Under the deal, the countries will ban insurance and shipping companies from offering their services for Russian oil shipments if the oil is sold above a price cap.
The EU is also planning a two-monthly review, and aims to set a cap for Russian crude at least 5 percent below market prices.