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Title : Kremlin Says It Won't Accept A $60 Price Cap On Its Oil. Is Preparing A Response
link : Kremlin Says It Won't Accept A $60 Price Cap On Its Oil. Is Preparing A Response

Kremlin Says It Won't Accept A $60 Price Cap On Its Oil. Is Preparing A Response

RT: Russia won’t accept oil price cap – Kremlin  

The EU and G7 have agreed to a $60 per-barrel ceiling for the purchase of Russian crude  

Moscow is not planning to recognize a Western-imposed price cap on Russian seaborne oil exports, Kremlin spokesman Dmitry Peskov said on Saturday, adding that the government is currently carrying out a review of the situation. 

“Now we are analyzing,” Peskov told journalists. “Some preparation was carried out for such a ceiling. We will not accept this ceiling, and we will provide further information on how the work will be organized after the review.”  

Read more ....  

WNU Editor: Ukraine President Zelensky wanted a lower cap .... Ukraine war: Zelensky calls West's Russian oil cap 'weak' (BBC). 

As to what is my take. 

Russia will sell it's oil to

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other buyers. As for the rest of us. This move will dislocate markets and will probably result in a spike in oil prices. What may save us from a prolonged price increase is a recession. All the signs are there for a major global recession in 2023, and that will definitely bring down the price of oil. 

Kremlin Says It Won't Accept A $60 Price Cap On Its Oil  

Moscow will not accept price cap on Russian oil — Kremlin spokesman -- TASS  

Russia rejects $60-a-barrel cap on its oil, warns of cutoffs -- AP  

Russia will ‘not accept’ price cap on oil exports, Kremlin warns -- France 24  

Russia says it won't accept oil price cap and is preparing response -- Reuters  

Kremlin rejects EU's $60 price cap on Russian oil -- UPI  

Russia Won't Accept $60 Price Cap on Its Oil, Kremlin Says -- Bloomberg  

Russia rejects $60 oil price cap, warns of response -- Al Jazeera  

Europe to live without Russian oil, says Russian envoy -- TASS

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