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Russia Will Continue Selling Oil at Market Rates: Siluanov

OIL

Russia will continue selling crude at market rates and will always be one of the largest oil exporters, despite the introduction of a price ceiling according to Finance Minister Anton Siluanov.

  • "Prices will be determined on the basis of market principles, and not on the basis of any ceilings, restrictions, which cannot work within the framework of market pricing,” Siluanov said.
  • "Russia is one of the largest oil exporters and it will aways be," he said.
  • Russia earlier this week announced a ban on the supply of crude oil and products to buyers that implement the $60 price cap. The restriction will run from 1 Feb to at least Jul 2023.
Energy BulletsCommodities
Energy BulletsCommodities

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