Novak: Moscow is ready to stop oil supplies to countries that join the Western price ceiling

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Russian Deputy Prime Minister Alexander Novak announced Russia's intention to stop oil supplies to countries that comply with imposing a ceiling on the price of a Russian oil barrel imposed by Western countries as part of their hostile measures against Russia.

“Russia will respond to the decision to impose a price ceiling on its oil, by banning the supply of oil and petroleum products to countries and legal entities that will comply with this condition in contracts, and it is also ready to reduce production by a rate that may range between 5 and 7 percent,” Novak was quoted by the Novosti agency as saying today. .

Novak stated that Russia is preparing a special decree, which will be issued soon, regarding Moscow's response to the decision to impose a ceiling on the price of crude oil, which was set by the G7 countries and the European Union.

Novak pointed out that according to the results of the year, oil production in Russia will grow by 2 percent to 535 million tons, and oil refining will increase by 5 percent.

In a related context, Novak revealed a partial decrease in gas production by about 18 percent to 20 percent, adding that, despite this, Russia will produce 671 billion cubic meters of gas this year, and this is also a large volume, and about 470 billion cubic meters will be sold.

Western countries, as part of their anti-Russian measures aimed at weakening their economy, imposed a ceiling on the price of Russian oil at $60, and those measures entered into force on December 5, which Moscow strongly opposed and confirmed that it would respond appropriately soon.

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