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Putin: Russia will not lose out from oil price cap

12/09/2022 | 08:42am EST
FILE PHOTO: Russian President Vladimir Putin meets with German Chancellor Olaf Scholz in Moscow

(Reuters) - Russian President Vladimir Putin said on Friday that Moscow would not lose out from the West's price cap on Russian oil exports and the government's finances would hold up fine.

He said the move was "stupid" and that energy prices would "skyrocket" for those who imposed the caps. He reiterated that Russia would not sell oil to those who comply with the $60-a-barrel cap, imposed by the European Union, G7 and Australia.

He said Moscow was preparing a response, which would be announced in the coming days.

(Reporting by Reuters; Editing by Kevin Liffey)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -0.05% 80.04 Delayed Quote.-7.24%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.05% 70.7 Delayed Quote.-2.01%
WTI -0.70% 73.305 Delayed Quote.-8.79%
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