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Go to mediabankOil pumping chairs in the Almetyevsk district of the Republic of Tatarstan. File photoMOSCOW, Oct 5The idea to set a price ceiling for Russian oil violates all market mechanisms, this tool can have a detrimental effect on the global oil industry, causing underinvestment and rising prices, said Russian Deputy Prime Minister Alexander Novak. «We believe that this tool — it violates all market mechanisms, it can have a very detrimental effect on the global oil industry as a whole, because if you want to create a deficit in the world market, then be sure to introduce a price cap.This intervention can lead to underinvestment in the oil industry as a whole, to a reduction in prices,» Novak told Rossiya 24 TV channel in response to a request to comment on the EU's imposition of a price ceiling on Russian oil.The head of the Indian Foreign Ministry commented on the introduction of a ceiling on prices for Russian oilThe vice-premier noted that the decision of the countries of the European Union not to introduce a ceiling on prices for Russian gas is reasonable, since the gas market is currently in a more difficult situation than the oil market. According to him, this would also have a negative impact on the European energy market and on the supply of resources to Europe. the region, basically. And there is a lot of competition for this product,» Novak explained. The representative of the Czech Republic to the EU, Edita Hrda, said on Wednesday that the permanent representatives of the EU countries had agreed on new sanctions against Russia, and the technical procedure for finalization had been launched. Sanctions, according to the previously published proposal of the European Commission, will include a legislative framework for setting a price ceiling for Russian oil. The head of the European Commission, Ursula von der Leyen, has previously stated the need to introduce a price ceiling for Russian gas. At the end of August, she announced that the European Commission is working on prompt and long-term measures to improve the situation against the backdrop of rising electricity prices in the EU, which mainly depend on the cost of blue fuel. However, at the end of September, the energy ministers of the EU countries did not agree on the introduction of a price ceiling for gas from Russia; according to Hungarian Foreign Minister Peter Szijjarto, “several large, strong European countries” were against it. The West increased sanctions pressure on Russia due to the situation in Ukraine, which led to higher prices for electricity, fuel and food in Europe and the United States. Earlier, Russian President Vladimir Putin, commenting on the West's idea to limit prices for Russian energy resources, said that Russia would not supply anything abroad if it was contrary to its own interests.The United States will release ten million barrels of oil from the reserve to the market