Russia's economic power not expected to diminish due to oil price cap — diplomat

Business & Economy December 06, 2022, 20:44

The West is acting to its own detriment

MOSCOW, December 6. /TASS/. The introduction of a cap for Russian oil prices by Western countries will not restrict Russia’s economic capability, Deputy Foreign Minister Sergey Ryabkov told reporters on Tuesday on the sidelines of the Primakov Readings forum.

"Our economic capability [amid the oil price cap] will not shrink; the same can be expected with regard to our budget revenues, I am confident," Ryabkov said.

"The West is acting to its own detriment. This reflects the degradation of political thinking," the official said. "I do not see any economic calculations there at all. Everything is driven by one-dimensional politics, <…> this is the situation at present," he added.

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