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Vedomosti: Moscow weighing three possible policy responses to oil price cap

Source: Vedomosti

The Putin administration and the Russian government are currently considering three possible policies to respond to the price cap on Russian oil imposed by the EU, the G7, and Australia, Vedemosti reported on Wednesday.

In the first scenario being discussed, Moscow would institute a ban on oil sales to countries that support the price cap, including sales that go through intermediary countries.

The second option would be a ban on exports under contracts whose conditions include a price cap, regardless of the customer.

The third possible response, according to Vedemosti’s sources, would be to set a maximum discount at which to sell its oil, though sources called this scenario the least likely.

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