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Al Jazeera
Al Jazeera
World

Putin threatens oil production cuts over price cap

President Vladimir Putin says on a visit to Bishkek, Kyrgyzstan, on December 9, 2022, that Russia will not sell oil to any countries that put a price cap on the commodity [Sergei Bobylyov/Reuters]

Russia will not sell oil to any country that imposes a price cap on its oil exports and is considering reducing its oil production, President Vladimir Putin says.

On Monday, the Group of Seven, European Union and Australia imposed a price limit on Russian oil of $60 per barrel in a move aimed at reducing Moscow’s ability to finance its war in Ukraine.

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