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Price ceiling for Russian oil not be canceled any time soon — Novak

Russia does not recognize terms of the price ceiling and Russian companies abide by the presidential decree that prohibits oil supplies under it, the official said

MOSCOW, October 13. /TASS/. The price ceiling for Russian oil will not be abolished in the near time, Deputy Prime Minister Alexander Novak said on the air with the Business FM radio station.

"I also do not believe," Novak said, commenting on the possibility of its cancellation.

Russia does not recognize terms of the price ceiling and Russian companies abide by the presidential decree that prohibits oil supplies under it, the official said. "Therefore, there is no difference for us whether this ceiling is in place or not but this is bad for the market," he added.

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Alexander Novak

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