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Russia plans to stop oil supplies to countries that join price cap — official

It is noted that Warsaw’s position is holding up the decision-making process on the price cap and another package of restrictions

MOSCOW, November 24. /TASS/. Moscow will not make deliveries to countries that will join a price cap on Russian oil, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday.

"We have frequently stated that the implementation of the so-called Russian oil price cap is an anti-market policy that disrupts supply chains and can severely exacerbate the situation on global energy markets. Russia does not intend to supply oil to countries that will join the buyers' cartel," she said at a briefing.

Zakharova noted that "many oil-producing countries also oppose this measure." "They simply understand that using this measure against Russia for purely economic reasons today, … they [Western countries] can use it to any other country," she noted.

Politico, a US-based newspaper, reported earlier on Thursday citing unnamed EU diplomats and officials that most countries of the European Union concur on capping the Russian oil price at $65-70 per barrel, though Poland insists on setting the price ceiling at $30 per barrel.

EU ambassadors discussed the maximum level of the price cap from morning till late into the night, but failed to reach an agreement, the publication wrote. Poland also wants to connect the oil issue to the new package of anti-Russia sanctions.

Warsaw’s position is holding up the decision-making process on the price cap and another package of restrictions, two diplomats told the newspaper.

Bloomberg reported on Wednesday that the talks between EU member-states on introducing a price cap on Russian oil reached a deadlock. According to the agency’s sources, Poland and the Baltic states rejected the European Commission’s (EC) proposal on setting the price ceiling on Russian oil at $65 per barrel, saying it was "too generous" an offer for Moscow. A number of other countries boasting developed navigation, including Greece and Malta, do not want the price of Russian oil to drop below $70 per barrel.