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OPEC+ cautions against West’s bid to create buyers’ cartel, says Russian Deputy PM

Alexander Novak underscored that OPEC+ countries continued to maintain cohesion, and the sanctions imposed by Western countries just worked to strengthen it

MOSCOW, December 26. /TASS/. OPEC+ has criticized the US-led West’s ‘unacceptable’ gamble to create a cartel of energy buyers by introducing price caps, warning that this type of intervention leads to market imbalances, Russian Deputy Prime Minister Alexander Novak told TASS during an interview.

"Our OPEC+ colleagues have already said that this is unacceptable for the market. When consumers start to interfere in the market economy, this only leads to imbalances," he cautioned.

Novak added that OPEC+ countries continue to maintain cohesion, and the sanctions imposed by Western countries just work to strengthen it.

"Cohesion was and is there. It is based on an understanding of what is happening in the market. It is influenced by various factors, and one of them is the sanctions," he stressed.

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