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Russia says the plan to cap oil prices will 'collapse' as West scrambles to cut off funding for Kremlin's war in Ukraine

1 month ago   |   By Business Insider

Reuters
Russia's deputy foreign minister said the plan by Western countries to cap its oil prices will "collapse."
The US and its allies discussed a cap on Russian oil prices at the G-7 summit last week, with a potential range of $40-$60 a barrel.
Energy analysts have warned Russia could retaliate by taking more barrels off the market abruptly to drive prices higher.
Russia suggested Thursday that plans by Western nations to cap its oil prices and limit its ability to wage war against Ukraine will fail. Sergei Ryabov, Russia's deputy foreign minister, told the Interfax news agency that a...
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