Oil price cap will backfire, warns Putin ...News

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Oil price cap will backfire, warns Putin
The Russian president says the measure will have no impact on the country’s oil revenues The price ceiling imposed by the West on Russian oil exports will impact the nations adopting the measure rather than Russia itself, President Vladimir Putin said on Friday. He noted that the cap is equal to prices at which the country is currently selling its crude. “We won’t sustain losses under any circumstances,” Putin said during a press conference following a summit of the Eurasian Economic Union (EAEU) in the Kyrgyz capital, Bishkek. The price limit on Russian seaborne oil, set at $60 per barrel, was introduced by the E

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