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Editor in Chief Mohamed Wadie

Kremlin: No Gas Supplies for Countries That Joined Price Cap

Thu 24 Nov 2022 | 06:37 PM
Omnia Ahmed

Kremlin spokesman Dmitry Peskov asserted, on Thursday, that Russia is not going to supply oil and gas to countries that join the price cap policy.

"Europeans still have very baffling discussions on this [price] cap," Peskov commented on the possibility of setting a price cap for Russian oil in the range of $65-70 per barrel.

He added: “They name hardly explainable numbers, it feels like they are just trying to make a decision for the sake of a decision - not for effect, but just for a show that the cap has been introduced.”

The Kremlin spokesman mentioned that "all this is subject to deep analysis,” adding that "it is still difficult to imagine" what impact this will have on the energy market.

"We are proceeding for the time being from the position of President [of the Russian Federation Vladimir] Putin that we will not supply oil and gas to those states that introduce and join the cap," Peskov noted.

The Russian official also pointed out that Moscow plans to analyze the situation before formulating a position amid the figures that have been discussed in Europe.