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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Russia: Price Cap is 'Dangerous' and Will Not Curb Demand for Our Oil

Russian officials have repeatedly said that they will not supply oil to countries that implement the price cap. Reuters

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports.

A coalition of Western countries led by the G7 group of nations agreed on Friday to cap the price of Russian seaborne oil at $60 a barrel, as they aim to limit Moscow's revenues and curb its ability to finance its invasion of Ukraine.

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