Russia says it won't accept oil price cap - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Kremlin spokesman Dmitry Peskov said Moscow had made preparations for Friday’s price cap announcement by the Group of Seven 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, RIA reported.Russia has repeatedly said it will not supply oil to countries that implement the cap – a stance reaffirmed by Mikhail Ulyanov, Moscow’s ambassador to international organisations in Vienna, in posts on social media on Saturday.

In comments published on Telegram, Russia’s embassy in the United States criticised what it called the “dangerous” Western move and said Moscow would continue to find buyers for its oil. “Steps like these will inevitably result in increasing uncertainty and imposing higher costs for raw materials’ consumers,” it said.

“Regardless of the current flirtations with the dangerous and illegitimate instrument, we are confident that Russian oil will continue to be in demand.”

Don’t understand the problem. If they don’t like it sell to someone else. What’s the problem. Their friends in Africa will buy it + China and India.

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