Russia early next year, the amount of oil production could be reduced by 5-7%, taking into account the maximum price of Russian crude oil set by Western countries, Deputy Prime Minister Aleksandr Novak announced on Friday.
The content will continue after the announcement
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“Early next year, we could make a reduction of 500,000-700,000 barrels per day. For us, it’s about 5-7 percent,” Novak told Russian news agencies.
He said Russia would not supply oil to countries that have set a price ceiling for its crude.
On December 5, the agreement between the European Union, the G7 countries and Australia to fix a maximum price of Russian crude oil at 60 dollars a barrel entered into force.
However, Russia has said this decision will not affect its war in Ukraine and expressed confidence it will find new buyers.
