All news

Possible oil price cap introduction to destabilize energy markets, Russian diplomat says

Alexander Grushko pointed out that the sanctions imposed earlier against Russia hit EU countries themselves

MOSCOW, September 28. /TASS/. The European Union’s possible introduction of the oil price cap will destabilize energy markets and push prices up, Russian Deputy Foreign Minister Alexander Grushko told reporters on Wednesday.

"We assume that everything is possible (regarding EU’s sanctions - TASS) and, broadly speaking, the actions of the Commission have widened our idea of the horizon of possible things in international relations," he said. "If they decide to introduce a price [cap] it will further destabilize energy markets, push prices up, trigger volatility, with this all affecting mainly consumers and the financial state of energy companies, including on EU markets," Grushko added.

The sanctions imposed earlier against Russia hit EU countries themselves, he stressed. "Whatever area we take, for example, food security, the state of affairs in global energy, everywhere the European Union’s steps only cause damage," the diplomat said.