Novak: The idea of ​​​​imposing restrictions on Russian oil will lead to higher prices

Novak: The idea of ​​​​imposing restrictions on Russian oil will lead to higher prices

Sputnik

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Russian Deputy Prime Minister Alexander Novak stressed that the West’s idea of ​​setting a ceiling for the price of Russian oil is just another political decision that will lead to market disruption and increase prices.

The statement of the Russian Deputy Prime Minister came as a comment on the agreement of the leaders of the G7 countries to put an end to the price of imported Russian oil in the future, with the aim of reducing Russia’s revenues.

He said in a television interview today, Thursday: “In my opinion, this is another attempt to interfere in market mechanisms, which can only lead to market imbalance and shortage of energy resources, which in turn will lead to an increase in prices for consumers, led by Europeans and the G7 countries.”

He added, that such a measure will negatively affect its authors, as it happened more than once, and said, “This measure is directed against its authors, as it happened more than once. Of course, these are unthoughtful and economically unjustified measures.”

As an example of political decisions that harm consumers in Europe, we can refer to the imposition of a ban on Russian coal, and this decision led to a rise in coal prices, in light of the shortage of supply coinciding with the increase in demand for it, according to Novak.

Source: RIA Novosti

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