Russia will increase its shipments of oil to Asia after the G7 finance ministers announced a price cap on Russian oil and fuels, to enter into effect from December 5 and February 5, 2023, respectively. "Any actions to impose a price cap will lead to deficit on (initiating countries') own markets and will increase price volatility," said Russia’s Energy Minister Nikolay Shulginov on the sidelines of the Eastern Economic Forum in Russia’s Far East, as quoted by Reuters. The G7 foreign ministers announced the price caps on Friday. Earlier…
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