February 2, 2023
Kremlin

Russia Rejects Oil Price Cap and Biden’s Terms

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Kremlin says US must recognise its new territories before talks and insists that it will not supply oil to countries imposing price cap

Russia prefers the diplomatic path towards resolving the crisis in Ukraine, but will not concede to US preconditions for negotiations, Kremlin spokesman Dmitry Peskov said on Friday.

US President Joe Biden’s demand that “talks will be possible only after [Russian President Vladimir] Putin leaves Ukraine,” is something that Moscow will not accept, the official said.

“The special military operation continues. That said, President Putin was, is, and will be open to contacts for talks. Certainly, the preferred path for securing our interest is peaceful diplomacy,” Peskov explained.

He was responding to a question about a statement that Biden made on Thursday during a joint press conference with visiting French President Emmanuel Macron.

Peskov assessed that there was little space for Washington and Moscow to negotiate on Ukraine at the moment.

“The US still does not recognize the new [formerly Ukrainian] territories that joined the Russian Federation, and certainly that makes the search for possible grounds for discussion much more difficult,” he said.

On Saturday the Kremlin rejected the Western imposed price cap on its oil exports.

Moscow is not planning to recognize a Western-imposed price cap on Russian seaborne oil exports, Kremlin spokesman Dmitry Peskov said on Saturday, adding that the government is currently carrying out a review of the situation.

“Now we are analyzing,” Peskov told journalists. “Some preparation was carried out for such a ceiling. We will not accept this ceiling, and we will provide further information on how the work will be organized after the review.”

On Friday, the EU finally agreed to cap the price of Russian seaborne crude at $60 per barrel, which had been proposed by the US and backed by the Group of Seven in September. The step paves the way for official approval of the measure over the weekend.

The cap, which seeks to further sanction Moscow over the military operation in Ukraine, will prohibit Western companies from insuring or financing vessels transporting Russian oil, unless the cargo is purchased at or below the artificial price level. It is set to take effect on December 5 or “very soon thereafter.”

Source AP/RT

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