MOSCOW, December 27. /TASS/. Russia’s Finance Ministry did not revise estimates of the federal budget after a number of unfriendly countries had introduced a cap on prices for Russian oil, Finance Minister Anton Siluanov told reporters on Tuesday.
"Honestly, we have not reviewed any estimates (of the federal budget - TASS). Why? Because we will sell oil anyway," the minister said.
He assured that possible changes in discounts and other consequences of introducing restrictions on Russian oil prices will not affect the budget.
"In any case, how will the budget change from this? It won't change at all. Since (budgetary) obligations will be fulfilled," Siluanov noted.
He stated that setting a cap on oil prices is not a market decision, but prices remain market-based. Despite the fact that Russia will stop deliveries to unfriendly countries that set the price ceiling, trade with other countries will continue, as will the search for new markets for oil and oil products by Russian exporters.
On December 5, an embargo on maritime oil supplies from Russia to the European Union came into force. The EU, the Group of Seven (the UK, Germany, Italy, Canada, USA, France, Japan), as well as Australia, agreed on a price cap for Russian oil supplied by sea at $60 per barrel. The US, EU and UK are banning their companies from providing transport, financial and insurance services to tankers carrying oil from Russia at a price above the agreed level.
Russia is preparing a decree in response to these measures. Earlier, Deputy Prime Minister Alexander Novak said that Russia plans to create and launch a mechanism by the end of 2022 that will prohibit Russian companies from trading oil with countries, which are "within the price cap."