• magazine
  • entertainment
  • news
  • Canada (en)
    • Global Edition
    • Australia
    • Belgique
    • Brasil
    • Canada (fr)
    • Canada (en)
    • Colombia
    • Deutschland
    • España
    • France
    • India
    • Ireland
    • Italia
    • Latino
    • México
    • Österreich
    • South Africa
    • Switzerland
    • United Kingdom
    • USA
Blog Title
  • Facebook
  • adsfasdf
  • YouTube

Russia denounces cap on its oil as «illegitimate» reshaping of free market

Daniel Stewart

2022-12-03
Gasoline
Gasoline prices in Hamburg (Germany) – Markus Scholz/dpa

The Russian government has accused the West of reshaping at its own peril and in a «dangerous and illegitimate» way the principles of the free market by setting a $60 (about 57 euros) cap on oil from Russia on Friday.

In response to the U.S. applause for the agreement reached Friday by the EU, the Russian Embassy in Washington «takes note of the arrogant American statements.»

«Washington strategists, hiding behind lofty slogans of ensuring the energy security of developing countries, maintain a wall of silence on the fact that the current imbalances on the energy markets stem from their ill-conceived actions: the introduction of sanctions against Russia and bans on energy imports from our country,» it adds in a note carried by the TASS news agency.

«The Western collective,» the Embassy adds, «is trying to solve the problems they themselves have so impetuously created and, in fact, we are witnessing a reshaping of the basic principles of the free market.»

Russian diplomacy warns, in this regard, that «decisions such as these will inevitably generate greater uncertainty and impose higher costs for consumers of raw materials» and they predict that, from now on, «no country will be immune to the introduction of all kinds of ‘caps’ on its exports for political reasons», they added.

«Regardless of the current flirtations with this dangerous and illegitimate instrument, we are confident that Russian oil will continue to be in demand,» the statement concludes.

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 who cite their heavy dependence on Russian oil.

  • Japan.- 80 percent of the population rejects tax hike to increase military spending
    2023-05-07

    Japan.- 80 percent of the population rejects tax hike to increase military spending

  • India.- At least 20 dead, most of them minors, after boat sinks
    2023-05-07

    India.- At least 20 dead, most of them minors, after boat sinks

  • US.- Driver kills seven people after ramming his vehicle next to immigrant shelter in Texas
    2023-05-07

    US.- Driver kills seven people after ramming his vehicle next to immigrant shelter in Texas

  • Cuba.- At least five arrested after opposition protest
    2023-05-07

    Cuba.- At least five arrested after opposition protest

  • 20 of the World’s Most Impressive Forests to Visit
    2025-01-29

    20 of the World’s Most Impressive Forests to Visit

  • Ona Carbonell ends her career with more than 20 years in the elite and a couple of Olympic medals
    2023-05-19

    Ona Carbonell ends her career with more than 20 years in the elite and a couple of Olympic medals

  • Verstappen, Perez and Alonso star on the podium in Miami
    2023-05-08

    Verstappen, Perez and Alonso star on the podium in Miami

  • Facebook
  • adsfasdf
  • YouTube
  • magazine
  • entertainment
  • news
  • Terms & Conditions
  • Privacy Policy
  • © 2023 Copyright News 360 S.L.