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Russian Deputy Prime Minister Alexander Novak said the country will not sell oil that is subject to the Western price cap, even if it has to cut production. Novak said the move by the West would destabilize global energy markets by triggering a supply shortage. On December 2, the G7 and Australia agreed to a $60 per barrel price cap on Russian seaborne crude oil, which is to take effect on December 5. CGTN speaks to Professor Liu Baocheng, dean of the Center for International Business Ethics at the University of International Business and Economics, for how can this move affect the global energy market.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466