Russia warns it could stop oil exports ...News

Crude production will be suspended if the Western price cap makes it unprofitable, a top official says Russia will stop global oil exports if the West’s price cap makes it unprofitable to continue production, Deputy Prime Minister Alexander Novak told Russia’s Channel One on Thursday. “If these prices which they are talking about are lower than the costs for oil production… naturally, Russia will not ensure the supply of this oil to the world markets, which means that we simply will not work at a negative profit,” he explained, as cited by TASS. The G7 countries agreed to set a cap on the price of Russian oil at t

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