MOSCOW: Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday (Jul 14) that attempts by the Group of Seven to cap oil prices may in fact cause them to rise.
"Those plans are anti-market and risky," she told a weekly briefing.
The cap scheme was first mooted last month by US Treasury Secretary Janet Yellen as part of a campaign to increase pressure on Moscow to end what the Kremlin calls a "special military operation" in Ukraine. The shape of the final deal and price level have yet to be announced.
The United States and European Union have announced restrictions on Russian oil purchases as a way of punishing Moscow.
Russian oil has already sold with a hearty discount to global grades amid difficulties with financing and logistics.
The price of Russian Urals blend stands at around US$75 per barrel, in comparison to the Brent benchmark front-month futures of just below US$100. Russia had initially drafted its 2022 budget using the Urals average price of US$62.2 per barrel.
https://news.google.com/__i/rss/rd/articles/CBMiZ2h0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vd29ybGQvcnVzc2lhLXdhcm5zLWc3LWF0dGVtcHQtY2FwLW9pbC1wcmljZS1yaXNrcy1oaWdoZXItcHJpY2VzLTI4MTAxNDHSAQA?oc=5
2022-07-14 11:31:38Z
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