Russian presidential spokesman Dmitry Peskov stated that the Kremlin is analyzing the situation regarding the establishment of a cap on oil prices, and that some preparations have been made to address such a trend. Peskov told reporters, "We are currently analyzing the situation. Of course, preparations have been made to confront this cap." He emphasized that Russia will reject any caps on oil prices, and after a quick analysis, there will be a decision regarding how to organize future operations. He stated, "We will not accept this cap. As for how to organize our work, we will conduct a swift analysis and announce it later."
Earlier, the G7 and Australia announced an agreement to set a cap on the price of seaborne Russian oil at $60 per barrel. The G7's decision regarding the oil price cap will take effect on December 5 or shortly thereafter. Yesterday, representatives from EU member states also reached an agreement on the maximum price level for Russian oil, set at $60. The European Council is expected to approve the decision soon.
