MOSCOW, November 21. /TASS/. Russia does not plan to supply oil or petroleum products to countries that will introduce the price cap, Deputy Prime Minister Alexander Novak told reporters.
"Russia confirms its status of a reliable energy supplier on the global market and the market status of our relations with partners. In this regard we do not plan to supply oil and petroleum products to countries that will use the price cap principle, with further refocusing of supplies to market-orienting partners or with the production reduction," Novak said.
The introduction of price caps for energy resources and energy sector politicizing can only lead to a deficit and problems with energy supplies, the official said.
"We believe energy sector politicizing can only lead to a deficit of resources and problems with energy provision. The price cap is exactly an act of an unprecedented interference in market principles of oil market functioning, which will inevitably lead to a drop in investments, lowered offer and the deficit in supply of oil and any other exchange-traded commodities, to which this mechanism can be used in future," he added.
Participants in the OPEK+ deal earlier agreed to reduce oil production by 2 mln barrels per day from November 2022 and extended the deal until the end of 2023.