Kremlin expects introduction of oil price cap to disrupt almost all countries

TASS Russian News Agency | Oct 6, 2022 at 1:34 PM

MOSCOW, October 6. /TASS/. The introduction of the oil price cap lobbied by the US will disrupt almost all countries, Kremlin Spokesman Dmitry Peskov believes.

"Of course, many countries understand the absurd of sudden moves that are under consideration in the European Union now, encouraged by the United States, on introduction of [oil] price caps," he told reporters on Thursday.

If taken, such decisions are able "to have a very destructive effect on future horizons of energy markets, thus disrupting almost all countries," Peskov added.

The decision of OPEC+ on reduction of crude output is aimed at maintaining stability on global markets, not at solidarity with any country, Kremlin Spokesman noted.

On Wednesday OPEC+ states agreed to cut production by 2 mln barrels per day starting November and extended the agreement by the end of 2023 at the first face-to-face meeting since March 2020 in Vienna.