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Russia will not sell gas or oil to countries that impose price cap

Nikolay Shulginov noted that this is some kind of cartel conspiracy against Russia

MOSCOW, September 11. /TASS/. Russia will not sell gas or oil to countries that impose a price cap, Russian Energy Minister Nikolay Shulginov said in an interview with Rossiya-1 TV channel.

"We certainly won’t sell at a loss or below cost. It’s impossible. This is some kind of cartel conspiracy against us. We definitely will not allow such behavior toward us," he said.

Russian Deputy Prime Minister Alexander Novak told reporters on September 1 that Moscow would stop the supply of oil and petroleum products to countries that decide to limit the cost of oil from Russia. As he stressed, Russia will not work "on non-market conditions". At the same time, Novak slammed proposals to introduce restrictions on the price of Russian oil as complete nonsense. In addition, he warned that "interference in the market mechanisms of such an important industry as oil, which is essential in terms of global energy security - such attempts will only lead to the destabilization of the oil industry", the oil market.

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