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Russia Vows to Operate According to Market

OIL

Russia has maintained is stance on any attempts to cap its oil prices.

  • "We have a rather hard line, and I have said this many times. No matter what the price cap is, even if it is high, it is unacceptable in principle. We will still operate according to the market," Deputy Prime Minister Alexander Novak said today.
  • The EU remains split on its efforts to try and set a cap on Russian oil before presenting it to G7 nations. The latest discussions of a $62/bbl cap are deemed too high by Poland and Baltic nations.

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