St Petersburg, June 19 -- Russian Deputy Prime Minister Alexander Novak on Thursday said that Europe's price caps on Russian oil will have no effect on its volumes of supply, adding that even the zero level of price ceiling will not affect them.
Speaking to Business FM on the sidelines of SPIEF (St Petersburg International Economic Forum) 2025, Novak said "I assume that the introduction of the USD 60 ceiling had no influence. This means that even if zero (price ceiling) is introduced it will have no influence," reports Russian state media TASS.
Currently, the G7 and EU countries (the price cap coalition) have banned imports of Russian crude oil and oil products, but allowed shipowners from their countries to transport them and provi...