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Oil price ceiling may be road to disintegration of global energy sector — Putin

It is noted that the oil price ceiling is a non-market instrument

MOSCOW, December 22. /TASS/. The price cap for Russian oil may lead to the disintegration of the world’s energy sector and skyrocketing prices, President Vladimir Putin told reporters.

"This is a road in direction of global energy sector’s disintegration. Time may come when the sector with insufficient investments will stop providing the market with the required volume of products. Prices will skyrocket then and will painfully hit those attempting to implement such instruments," the head of state said.

The oil price ceiling is a non-market instrument, Putin added.

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