Go to mediabankAlexander Novak ahead of the OPEC+ Ministerial Meeting in ViennaVIENNA, Oct 5 strong>Russia will continue to supply oil only to those consumers who will provide market pricing mechanisms, Russian Deputy Prime Minister Alexander Novak told reporters after the OPEC+ meeting. «Such precedents will greatly harm the energy market, it will only lead to shortages, to rising prices … that it is inappropriate for us to provide supplies with the introduction of such an instrument to those consumers who will use the price cap. We will continue to supply only to those who provide market pricing mechanisms,» he answered the question about a possible ceiling on oil prices from the Russian Federation.
OPEC + does not know what will happen to the EU embargo on Russian oil. Later, in an interview with Russia 24 TV channel, Novak did not rule out that if the Russian oil price ceiling is introduced, this will lead to a further increase in commodity prices in the world. Today gas prices are much higher than they were a year ago, 3-4 times.Oil prices are 37% higher compared to last year.If the price cap mechanism is introduced, I do not exclude that prices will be even higher, because there will be a shortage,» the Deputy Prime Minister said. 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 finalizing them had been launched. The 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 West has increased sanctions pressure on Russia due to the situation in Ukraine, which has led to an increase in 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.
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