According to the Russian president, the world energy market would be strongly affected by a proposal being considered by the European Union and other powers to limit Moscow’s income.
Russian President Vladimir Putin said Thursday that putting a cap on the price of Russian oil, as several powers claim, would have “serious consequences”.
The allies plan to take that measure as a a way to limit the financing of the Russian invasion of Ukraine.
Let us remember that this war conflict began in February of this year and that it has been successfully repelled by Ukrainian forces.
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“This type of action is contrary to the principles of trade relations and will probably have serious consequences on the world energy market”
This was stated by Putin in a telephone conversation with the prime minister. from Iraq, Mohamed Shia al Sudani, reported the Kremlin.
Both authorities also spoke about the role of OPEC+ in guaranteeing the stability of the oil market.
This is a coalition of states that wants to impose a cap on Russian oil prices, which includes the G7, the European Union and Australia.
This body is the one that should announce the proposed limit “in the coming days,” a US Treasury official said.
The goal is to reach a maximum price for Russian hydrocarbons that can be applied before the new EU sanctions come into force.
Russian oil measure would not affect the EU
Limiting the price of Russian oil should reduce its financial resources and its ability to continue the offensive in Ukraine.
Despite this, also contain the rise in energy prices.
A price cap would not directly affect the EU, which has already decided to ban purchases of Russian crude from December 5 (except for those from the pipeline that feeds Hungary).
Despite this, it would harm freighters carrying oil from Moscow, some of which fly Greek, Maltese or Cypriot flags.
Russia repeatedly warned that It will not supply crude to those countries that adopt such limitations, for which it has predicted great problems for their populations during the winter.
In addition, according to its government, it can also adopt retaliatory measures.
Examples of this are the reduction in extraction from 530 million tons this year to 490 million tons of cr udo in 2023.