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Others may reject Japan's proposal for oil price cap, Kremlin says

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2022-07-06 21:41:12

Kremlinspokesman Dmitry Peskov told reporters today that Russia needs to wait to see how proposals to cap prices for Russian oil exports are finalized​​​.

Commenting on reports that Japanese Prime Minister Fumio Kishida proposed a cap at around half the current price, Peskov said other countries might disagree.

"This statement ... does not imply that other countries will agree to these parameters," Peskov said on a daily conference call with reporters.

"So far, it's been a single statement and no decisions have been taken." G7 leaders agreed last week to explore the feasibility of imposing temporary import price caps on Russian fossil fuels, including oil.

They have asked ministers to urgently evaluate the proposal to limit Russia's resources to fund its military operations in Ukraine.

Moscow called its operation in Ukraine an extraordinary military operation and warned that any measures to restrict energy supply would be counterproductive to end users as global oil prices rise.

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