Dmitry Peskov, Kremlin spokesman. Getty Images
Russia argued on the 5th (local time) that the price cap on Russian crude introduced by the European Union (EU), G7 countries and Australia would not have any effect on the war in Ukraine.
According to foreign media such as Reuters, Kremlin spokesman Dmitry Peskov said in a conference call with reporters that day about the introduction of the oil price cap, “The Russian economy has the potential to respond to the demand for operations in Ukraine . This measure will not affect Russia’s “special military operation,” he expressed confidence.
He went on to say, “So far, Western sanctions have brought problems to Russia, but they have not been serious. Rather, he indicated that the oil price cap will cause instability in the global energy market.” Also, regarding the recent repeated calls for strong sanctions against Russia by German Chancellor Olaf Scholz, he said, “It is clear that the oil price cap will hurt Europeans, including the German economy.”
In addition, Peskov’s spokesman reiterated that Russia will not accept this measure and will soon draw up countermeasures.
The EU, the G7, and Australia implemented a price ceiling on Russian crude oil of 60 dollars (about 78,000 won) per barrel to make it difficult for Russia to finance its war. The price of $60 per barrel is about $10 below the current price of Ural oil in Russia, which is $70 per barrel, The participating countries will ban maritime services such as insurance and transportation for Russian crude oil exported at a price above the upper limit.
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