MOSCOW, September 1. /TASS/. Neither OPEC+ countries, nor India and China support the idea of imposing a price limit on oil from Russia, Russian Deputy Prime Minister Alexander Novak told reporters.
"I have not heard it. At least [I have not heard] that China and India have joined [the decision to cap Russian oil prices]. We have not heard from other oil producers that are participating in the market, at least one positive response about this absurdity that is being discussed," he said.
Novak added that limiting the price of Russian oil would completely destroy the global market.
The embargo imposed by the EU and the US on Russian oil purchases has led to a sharp surge in prices, which enabled Moscow to redirect large volumes of crude oil to other markets, primarily to India and China, and even to boost revenues, selling smaller volumes of oil with discounts though. The EU and the US have been suffering losses, including the spillover effect in the form of inflation. Amid this background a statement was made following the G7 summit in late June, in which G7 leaders pledged to consider the possibility of capping prices for Russian oil through a ban on providing services on its transportation by sea if the cost of oil exceeds the ceiling set by international partners.