Putin’s terrifying warning to West as Russia vows to send energy prices soaring again

Mikhail Ulyanov, Moscow’s ambassador to international organisations in Vienna, said Europe can forget about receiving anymore oil from Russia, despite EU sanctions exempting the most reliant EU nations like Slovakia, Hungary and the Czech Republic from the bloc’s Russian oil ban. 

Mr Ulyanov tweeted: “Starting from this year Europe will live without Russian oil. Moscow has already made it clear that it will NOT supply oil to those countries who support anti-market price cap. Very soon the EU will blame Russia for using oil as a weapon.”

The proposed G7 price cap is set to let non-EU countries to keep on importing seaborne Russian crude oil. Howeer,  it will ban shipping, insurance and re-insurance companies from handling cargoes of Russian crude globally, unless it is sold for under $60 (£48).

There are fears that this could complicate the shipment of Russian crude that is more expensive than the determined cap, and possibly to countries that are not part of the agreement.

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Article source: https://www.express.co.uk/news/science/1705142/putin-russia-energy-prices-oil-price-cap-g7