10/27/2022, 11:32 AM (Source: TeleTrader)
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Chart for: Rosneft (REPO with CCP 1 day)

Rosneft: EU proposal to cap Russian gas prices 'unthinkable'

Head of Russia's Rosneft Igor Sechin branded proposals by the European Commission to introduce cap prices for Russian gas "unthinkable," speaking at Verona Eurasian Economic Forum in Baku on Thursday.

Sechin accused the West of destroying corporate law by sanctioning Russia and predicted that the refusal to buy Russian hydrocarbons would further augment global inflation, leading to an "acute energy deficit."

He concluded that he was amazed at the speed at which the European Union implemented the United States' "absurd ideas." In September, the US advocated for imposing a price cap on Russian oil, calling it critical for promoting stability in global energy markets.

Baha Breaking News (BBN) / MX