Kremlin: Russian oil cap will have no impact on Ukraine attack

The ceiling on its price Russian oil which the West decided to impose, will have no impact on Russia’s attack in Ukraineunderlined on Monday (5/12) the Kremlin while at the same time warning of “destabilization” of the global energy market.

As his representative pointed out Kremlin Dmitry Peskov speaking to journalists “the Russian economy has all the necessary capabilities to finance the military attack”. “Measures of this kind will have no impact on the intervention in Ukraine,” he insisted, as reported by the Athens News Agency.

“On the contrary, these measures will undoubtedly have an impact on the stability of the global energy market. It’s a step towards its destabilization,” he continued Peskovadding that Moscow is “preparing” countermeasures.

The EU, G7 countries and Australia agreed to cap the price of Russian oil, a measure that comes into effect today.

The aim of this new sanction, imposed on Russia, is to deprive it of a part of its huge revenues from the sale of its hydrocarbons and thus reduce its ability to finance its war in Ukraine.

The Kremlin had already warned that it would not deliver oil to countries that would adopt the cap mechanism, a position that was reiterated yesterday, Sunday, by the Russian Deputy Prime Minister in charge of Energy Affairs, Alexander Novak.

Russian news agencies, citing his remarks, reported that he also noted that Russia was working “on mechanisms to prohibit the use of the capping tool, regardless of the level at which it is set.”

“Intervention of this kind can only cause more destabilization of the market and shortage of energy reimgs,” emphasized Novak.

The price of a barrel of Urals crude was currently hovering around $65, barely above the $60 ceiling.

Source: News Beast

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