Putin Warns of ‘Grave Consequences’ to Oil Price Caps
kremlin.ru
Moscow Occasions/AFP: Putin Warns of ‘Grave Consequences’ to Oil Rate Caps
Russian President Vladimir Putin warned that Western ideas to introduce oil price caps could have “grave penalties” for strength marketplaces, during a telephone discussion with Iraq’s key minister on Thursday.
“Vladimir Putin pressured that these kinds of actions are opposite to the principles of current market relations and are hugely very likely to guide to grave effects for world power marketplaces,” the Kremlin claimed in a readout of the Russian leader’s simply call with Iraqi Key Minister Mohammed Shia al-Sudani.
The Kremlin said both of those sides experienced also spoken positively of the two countries’ do the job in just the framework of OPEC+, which it said aided “stabilize the world oil market place.”
Update #1: Rate cap for Russian oil could lead to grave implications — Putin (TASS)
Update #2: Putin discusses West’s oil value cap with Iraqi leader – Kremlin (Reuters)
WNU Editor: As to what will individuals “grave penalties be? I can very easily see a number of million barrels of Russian oil for every working day staying taken off the marketplaces. The affect on costs will be enormous.
No settlement nevertheless on imposing price tag caps on Russian oil …. EU Extends Oil Selling price Cap Talks as Russia Hints See Could Ease (Bloomberg).
