MOSCOW, December 8. /TASS/. The Russian Finance Ministry considers it too early to assess the effect on the budget from the introduction of a price cap on Russian oil, but Russia is preparing retaliatory measures, Finance Minister Anton Siluanov told reporters.
"So far it is too early to talk about the impact on the budget. We are now preparing retaliatory, reciprocal measures regarding how our companies will react to the introduction of the price cap," Siluanov said. He noted that such measures will be announced in the near future.
The minister called the introduction of a price cap a non-market measure that would have implications for the world market. "It is clear that these are non-market mechanisms. The West has always called on us to use transparent, market-based measures, influencing the economy. Although, we have seen this before, itself it uses double standards. This is happening now. But you cannot deceive the market," Siluanov said.
Russian presidential spokesman Dmitry Peskov said earlier that Moscow's official response to the Western price cap on Russian oil will follow once the analysis of the situation is complete.
On December 5, an embargo on the delivery of Russian oil by sea to EU members went into effect, as did a resolution by the EU, the G7, and Australia to set an adjustable price cap for Russian oil supplied by sea at $60 per barrel. According to Novak, Russia intends to develop a mechanism that will prohibit trading based on the rubles of the oil price cap.