Russia Ukraine War News Live: Russia rejects a $60-per-barrel oil price ceiling and warns of supply disruptions

Russia Live Ukraine War News: Russian officials rejected a price ceiling on the country’s oil imposed by Ukraine’s Western backers and threatened to cease supplying the countries that supported it on Saturday. Australia, the United Kingdom, Canada, Japan, the United States, and the European Union’s 27 members agreed on Friday to set a price ceiling of $60 per barrel for Russian oil. The limit, combined with an EU ban on Russian oil supplied by water, is expected to go into force on Monday.Dmitry Peskov, a Kremlin spokesman, said Russia needed to evaluate the situation before deciding on a precise reaction, but it would not accept the price cap. Mikhail Ulyanov, Russia’s permanent envoy to international bodies in Vienna, warned that the cap’s European supporters will come to regret their decision.
“Europe will be without Russian oil starting this year.” “Ulyanov turned to Twitter. “Moscow has already said that it will not provide oil to countries that support anti-market pricing regulations. Wait a minute, the EU is about to accuse Russia of using oil as a weapon.
Meanwhile, the office of Ukrainian President Volodymyr Zelenskyy asked for a lower price ceiling on Saturday, claiming that the one approved by the EU and the Group of Seven major countries was insufficient. “It would be essential to decrease it to $30 in order to ruin the enemy’s economy faster,” Andriy Yermak, the head of Zelenskyy’s office, said on Telegram, adopting a stance shared by Poland, a key opponent of Russian President Vladimir Putin’s conflict in Ukraine.
Russian officials rejected a price ceiling on the country’s oil imposed by Ukraine’s Western backers and threatened to cease supplying the countries that supported it on Saturday.
Australia, the United Kingdom, Canada, Japan, the United States, and the European Union’s 27 members agreed on Friday to set a price ceiling of $60 per barrel for Russian oil. The limit, combined with an EU ban on Russian oil supplied by water, is expected to go into force on Monday.
Dmitry Peskov, a Kremlin spokesman, said Russia needed to analyse the situation before deciding on a specific response, but it would not accept the price ceiling. Mikhail Ulyanov, Russia’s permanent representative to international organisations in Vienna, warned that the cap’s European supporters would come to regret their decision.
“Beginning this year, Europe were without Russian oil “Ulyanov took to Twitter. “Previously, Moscow said that it will not provide oil to countries that support anti-market pricing measures.” Wait until Russia is accused of using oil as a weapon by the EU.”