The Kremlin stressed Monday that the cap set by Western countries on Russian oil will not affect the financing of military operations in Ukraine and advanced that Moscow «is preparing» a response to the measure, which Russia «does not recognize.»
«Russia’s economy has the necessary potential to fully meet all needs and requirements within the framework of the special military operation, so such measures will have no impact,» Russian presidential spokesman Dmitry Peskov said.
However, he warned that this measure «will affect the stability of the global energy market in terms of its total destabilization», before reiterating that Moscow «does not recognize any ceilings», something he described as «obvious».
Peskov has further argued that all countries should prepare for further price increases. «It is obvious and indisputable that the adoption of this decision is a step towards destabilization of the world energy markets,» he has concluded, as reported by the Russian news agency Interfax.
The Russian government on Saturday accused the West of reshaping at its own risk and in a «dangerous and illegitimate» way the principles of the free market by setting a cap of $60 (about 57 euros) on oil from Russia on Friday.
The measure follows the agreement reached within the G7 to set a cap between $65 and $70 on Russian crude, and is aimed at oil transported by sea and will not affect oil arriving in Europe via pipeline, following the exception won by Hungary and other landlocked European partners citing their heavy dependence on Russian oil.
