Western countries implement Russian oil price cap as pressure over Ukraine mounts for President Putin

A Kremlin spokesperson says Europeans should brace for high prices as the price cap, implemented by the European Union and other Western countries, will"completely destabilise" global energy markets.Western countries have begun imposing a $60-per-barrel price cap and ban on some types of Russian oil as part of new measures to put further pressure on Moscow in light of its ongoing invasion of Ukraine.

Agreed upon on Friday, the European Union along with Britain, Australia, Canada, Japan and the United States have imposed the price cap, with the 27-country European bloc also imposing an embargo onPresident Volodymyr ZelenskyyOn Monday, the Kremlin said that a Western price cap on Russian oil would destabilise global energy markets but would not affect Moscow's ability to sustain its military operation in Ukraine.

Dmitry Peskov, the Kremlin's spokesperson, said Russia was preparing how it would respond to the move by the G7 and allies to ban countries and companies from dealing with Russian sea-borne exports of oil where the price is above $60 a barrel. Calling Russia's actions in Ukraine a"special military operation, Mr Peskov told reporters:"Russia and the Russian economy have the required capacity to fully meet the needs and requirements of the special military operation."

He added that the price cap would"completely destabilise" the global energy markets, and told Europeans that they should brace themselves for higher prices.

Putin should turn the gas off

Translated. The stupid EU has just put the price of oil, petrol, ect up with another crazy decision. Living in complete fantasy world.

Good. Something useful at last

Oooooh, that'll learn him! 🤡

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