All news

Many countries attempt to classify Russia as non-market economy — Finance Minister

Certain decisions made by Russia’s opponents are primarily detrimental to themselves, for example, the oil price cap, Anton Siluanov said

MOSCOW, November 16. /TASS/. Many countries are trying to classify Russia as a country with a non-market economy, while they themselves use mechanisms to create non-market competition, Finance Minister Anton Siluanov said in an interview with the Izvestiya newspaper.

"Many countries are attempting to put Russia on the list of states having a non-market economy. It is strange to hear because the same countries impose trade restrictions and sanctions on enterprises unable to sell their products across the globe. The most interesting point is that they limit prices for marketable goods," Siluanov said.

Countries viewing themselves as being "committed to market principles" should think about their decisions, the Minister said. "They introduce restrictions, respectively, on trade relations and business opportunities. So what are these market principles and these market rules?" he noted.

Certain decisions made by Russia’s opponents are primarily detrimental to themselves, for example, the oil price cap, Siluanov said. "When setting a cap for Russian oil prices, they do the reverse for global prices of this commodity, because the supply on the global market will be smaller. Russia will not supply at prices set by somebody else; accordingly, the smaller the market supply, the higher prices will be," he added.