Russia “will not accept” a price cap on its oil and is analysing how to respond, the Kremlin says, in response to a deal by Western powers aimed at limiting a key source of funding for its war in Ukraine.
Key points:
- Russia has repeatedly said it will not supply oil to countries that implement the price cap
- Volodymyr Zelenskyy said the price cap is not serious and will do little to deter Russia from waging war
- The US said the cap will benefit low and medium income countries that have borne the brunt of high prices
Kremlin spokesman Dmitry Peskov said Moscow had made preparations for Friday’s price cap announcement by the Group of Seven (G7) nations, the European Union and Australia, the Russian state news agency TASS reported.
“We will not accept this cap,” RIA news agency quoted him as saying.
He added that Russia would conduct a rapid analysis of the agreement and respond after that,…
