Russia threatens to stop oil supply to G7 countries

Moscow: Russia has threatened to cut off oil supplies to the G7 countries, making it clear that sanctions will be imposed on countries that support Washington’s proposed oil price.

According to foreign media, Russian Deputy Prime Minister Alexander Novak has said that the countries that are supporting the oil price proposal by Washington and the countries or companies that will impose sanctions on Russia, we will give them our oil and oil products. Will not provide, because we will not operate after the market.

While talking to the journalists, he said that currently the plan to limit the prices of Russian oil is being discussed by the Group of Seven (G7) countries. The idea of ‚Äč‚Äčimposing a price ceiling on Russian oil is used as a tool to reduce Moscow’s revenue from commodity exports, thwarting efforts to force Russian crude out of the market.

Novak warned that such a plan would jeopardize the market mechanism of an important industry like oil and could only lead to destabilization of both the industry and the oil market, and if it did, European and American consumers would be the first. will pay the price, while they are already paying a high price today for their wrong actions.

The Deputy Prime Minister said that Russia is currently pumping as much oil as it has the capacity to produce and sell at the moment, but if the world market conditions stabilize and Russian producers are confident in finding buyers. If there are, the production can also be increased.

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