11/29/2022, 9:12 AM (Source: TeleTrader)
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Novak: Obvious West not united on Russian oil price cap

Russian Deputy Prime Minister Alexander Novak stated on Tuesday, speaking at the Russian-Chinese energy business forum, that there are clear differences in opinion among the Western allies with regard to the imposition of a price cap on Russian oil, as the discussions are still taking place.

Novak noted that the West introduced a few "rash sanctions decisions" against major energy producers, among which is Russia. He said that "all these actions entail huge risks for the functioning of the industry, provoking a shortage of energy resources."

At the same event, Novak highlighted that since the beginning of 2022, the energy trade between Moscow and Beijing increased 64% in monetary terms. He further asserted that Russia is ready to "consider proposals from Chinese partners to participate in the development of oil fields" in the country.

Baha Breaking News (BBN) / AY