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Russia threatens to cut supplies if countries limit oil prices

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Vice-primeiro-ministro Alexander Novak criticou proposta do G7 de colocar limites nos preços das exportações de petróleo russo: “Vai arruinar completamente o mercado”

Vice Prime Minister Alexander Novak criticized G7 proposal to put limits on Russian oil export prices: “It will completely ruin the market”

| Photo: EFE/EPA/ANATOLY MALTSEV

Russia threatened this Thursday (1st) to suspend the supply of oil and derivatives to countries that decide to limit the price of Russian oil.

“If they impose price restrictions, we will simply not supply oil and oil products to the companies or states that impose them, as we will not work in a non-competitive manner,” said the deputy prime minister. Alexander Novak, in statements reported by Russian news agency Tass.

The finance ministers of the G7 countries (United States, Germany, France, United Kingdom, Italy, Canada and Japan) will discuss on Friday (2) the idea of put a cap on Russian oil exports to prevent the Kremlin from taking on large revenues as the price of a barrel of oil rises.

“Interference in the market mechanisms of an industry as important as the oil industry, which is the most important in terms of guaranteeing energy security of the entire the world will only destabilize the oil market”, he said.

Novak highlighted that European and American consumers who already pay high prices for energy will now be the first to pay for the measure. “This will completely ruin the market”, argued the deputy prime minister.

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