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Russia Expects Partners to Disregard Price Cap

OIL

Russia has no interest in the G7 price cap according to Russian Foreign Minister Sergei Lavrov.

  • "We have no interest in what the price cap will be. We will reach direct agreements with our partners. The partners working with us will disregard these caps and will give no guarantees to those who impose such caps illegally," he said.
  • "Every time we negotiate with China, India, Turkey and other big buyers of ours, there is an element of balancing interests in terms of time, volume and prices," he added.
  • "This is not about earning a bit more from selling our oil. It's just that we need to start building a system independent from these neo-colonial methods. This is what we are doing together with BRICS colleagues and about a dozen other countries that wish to coordinate their efforts with BRICS. We are doing so in the SCO and, clearly, in the EAEU, alongside bilateral relations with China, Iran, India and other countries," Lavrov said.

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