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China opposes G7's price cap on Russian oil

"We hope that the countries concerned will make constructive efforts, and not the other way around," Chinese Foreign Ministry Spokesperson Mao Ning noted

© Maxim Slutsky/TASS

BEIJING, September 5. /TASS/. Chinese authorities oppose the decision made by G7 countries to introduce a price cap on Russian oil, urging members of the group to rethink their position, Foreign Ministry Spokesperson Mao Ning said on Monday.

"Oil is crucial for ensuring global energy security," she told a briefing. "We hope that the countries concerned <…> will make constructive efforts, and not the other way around," the diplomat added.

Oil is one of the key types of commodities on the international market, Mao Ning noted, adding that amid the current environment in the world G7 states "should fortify dialogue and advance negotiations."

Following a meeting of finance ministers from the Group of Seven on September 2 in Berlin, the G7 club agreed to introduce a proposed price cap on Russian oil to limit the country’s revenues from its export. Moscow has warned it will suspend supplies of oil and petroleum products to states that decide to join this initiative.

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