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Chinese diplomat urges stable energy supplies in wake of price cap on Russian oil

"We believe that all parties involved should make constructive efforts to ensure the security of oil supplies," Mao Ning added

BEIJING, December 5. /TASS/. The international community should ensure stable energy supplies in the wake of the price cap on Russian oil, Spokesperson for the Chinese Foreign Ministry Mao Ning said on Monday.

"Oil is a key commodity, and it is extremely important to ensure the security of worldwide supplies of this energy," she said at a press conference, commenting on the introduction of the much-talked-about price ceiling on Russian oil by the European Union.

Bilateral cooperation between Beijing and Moscow has always been mutually advantageous and based on the principles of mutual respect, the Chinese diplomat emphasized. "We believe that all parties involved should make constructive efforts to ensure the security of oil supplies," she added.

On December 5, the EU’s embargo on Russian oil shipments by sea and its $60 a barrel cap on seaborne Russian crude became applicable. The G7 and Australia joined the EU price cap. A number of European experts worry that the measure will negatively affect the global economy. Russia warned earlier that it would not sell its crude under the conditions envisaged by the price cap, even if forced to cut production.

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