The Ministry of Energy called the consequences of limiting prices for Russian oil

VLADIVOSTOK, 6 Sep — PRIME. First Deputy Minister of Energy of the Russian Federation Pavel Sorokin, commenting on the discussion by Western countries of setting a ceiling price for Russian oil, said that such ideas lead to nothing but the collapse of the segment.

“Today we see attempts, in addition to physical restrictions, to discuss price control mechanisms. We understand everything very well and have seen examples of those countries that have tried to engage in such a policy. This has never led to anything, except for the collapse of the segment in which such price controls were introduced” , – Sorokin said at the session of the WEF.

“Today, populism has much more weight than pragmatism, and such attempts will probably continue,” he added, noting that Russia has the opportunity “not without difficulties, but to restructure and continue a pragmatic policy.”

G7 finance ministers (Great Britain, Germany, Italy, Canada, USA, France and Japan) on Friday confirmed their intention to impose price restrictions on Russian oil as part of the expansion of sanctions for a military special operation in Ukraine. Russian representatives warned in response that the countries that would apply the limits would be left without Russian oil exports.

The WEF takes place on September 5-8 on the campus of the Far Eastern Federal University on Russky Island in Vladivostok. RIA Novosti acts as the general media partner of the forum.