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Russian Deputy PM Warns Russia Will Stop Exporting Oil If Price Caps Are Imposed

Russian President Putin Meeting Deputy Prime Minister Alexander Novak . Kremlin.ru

RT: Russia warns it could stop oil exports 

Foreign crude sales could be suspended if US-driven scheme succeeds, top official says 

 Russia will stop global oil exports if the West’s proposed price cap makes it unprofitable to continue production, Deputy Prime Minister Alexander Novak told Russia’s Channel One on Thursday. 

“If these prices which they are talking about are lower than the costs for oil production… naturally, Russia will not ensure the supply of this oil to the world markets, which means that we simply will not work at a negative profit,” he explained, as cited by TASS.

Read more ....  

WNU Editor: Russian Deputy Prime Minister Alexander Novak's background is in the energy industry. In Russia his word is gospel when it comes to energy issues. 

As to what will be the consequences if Russia halts its oil exports? This energy consulting group is making this dire prediction .... Price cap on Russian oil is a ‘ridiculous idea’ and could push oil to $140, says energy research group (CNBC). 

Russia Warns It Will Stop Exporting Oil If Price Caps Are Imposed 

Russia will not supply oil if price cap is below production costs — Deputy PM -- TASS  

Novak: Russia Will Not Export Oil If Price Cap Is Below Production Cost -- OilPrice.com  

Russia won't supply oil if price is capped below production cost - Interfax -- Reuters



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