Kremlin Critiques EU's Proposed Russian Oil Price Cap as Ineffective
MOSCOW (Reuters) -A lower price cap for Russian oil proposed by the European Commission does not contribute to the stabilization of global energy markets, Kremlin spokesperson Dmitry Peskov said on Wednesday.
In its new package of sanctions against Russia over Ukraine, the Commission on Tuesday proposed to lower the Group of Seven nations' price cap on Russian crude oil to $45 a barrel from $60 a barrel in a bid to cut the country's energy revenues.
Peskov also called the Western sanctions illegal.
(Reporting by Gleb Stolyarov; Writing by Vladimir Soldatkin; Editing by Jan Harvey)
