Russia not complying with Western oil price cap – deputy PM  ...News

The country's crude is being sold at market prices, Aleksandr Novak has said   Russia is not selling crude under the price cap mechanism introduced by the G7 and EU in an effort to curtail Moscow’s energy revenues, Deputy Prime Minister Aleksandr Novak stated on Tuesday.    Oil companies are complying with a presidential decree obliging Russian legal entities and individuals to avoid Western-mandated oil price limits in their contracts with foreign buyers, he said, adding that Russian crude is traded at market prices.  “Initially, when the price ceiling was introduced, we said that this is a non-workable instrume

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