MOSCOW, December 6. /TASS/. By imposing the much-talked-about price cap on Russian oil, the United States and European countries are "cutting the branch they're sitting on" Russian Deputy Foreign Minister Sergey Ryabkov told reporters on Tuesday.
Ryabkov questioned Washington's adherence to the principles of globalization and global market rules, saying, "By resorting to such methods and making their own allies in Europe party to their decisions, the United States is essentially cutting the branch they’re sitting on." "In their quest to crank up pressure on Russia and find ways to make our life harder, the basics of how the global economy works are being violated," he said, warning that a fragmented global market may soon become a reality.
However, the senior diplomat confidently reassured that Russia would find buyers for its oil and that the country’s interests in energy trading would be met.
"We’ll see how the market reacts in the future, but our interests in this field will be defended one way or another. Those obsessed with anti-Russian notions will finally find their schemes falling flat and they will end up facing flux, instability, volatile prices and unpredictability," Ryabkov warned. "The things they used to value are being sacrificed for their own ideas of how to live in a world where far from everybody is willing to act on their instructions or do whatever they tell anyone to do," he concluded.
On December 5, the G7 countries, the EU and Australia imposed a $60 per barrel cap on the price of Russian seaborne oil for vessels and territories under their control. Also, price limits for petroleum products that have yet to be outlined will become applicable from February 5, 2023. The embargo on Russian oil to the EU remained in force and came into effect on Monday, however, that will spare crude shipments via the Druzhba pipeline to Hungary, the Czech Republic and Slovakia.