Kremlin warns of possible oil market destabilization if price ceiling applied

The introduction of a price ceiling for Russian oil will lead to a significant destabilization of the oil markets, Press Secretary of Russian President Dmitry Peskov told a briefing.

Report informs, citing Interfax, that, according to Peskov, currently the energy markets, mainly in Europe, are in a fever.

"The anti-Russian measures have led to a very, very deep crisis, to a situation where Europeans, and buy liquefied gas for crazy, completely unjustified money, mostly from the United States, US companies are getting richer, and European taxpayers are getting poorer. Let's see how the processes on oil cases will develop in the event such absurd decisions are made," Peskov said.

When asked if the Kremlin fears that such a possible decision will have a negative impact on the Russian market, he replied that all options are being considered: "There are alternative scenarios for the development of the situation."

Earlier this summer, the United States proposed limiting the price of Russian oil and lifting the ban on its purchases in order to limit price increases and prevent Russia from receiving oil revenues. On September 2, the finance ministers of the G7 countries are to discuss a plan to introduce this limit.