“If these prices, which they are talking about, are lower than the costs for oil production ... naturally, Russia will not ensure the supply of this oil to world markets,” TASS quoted him as saying.
Novak stressed that the Russian side would not work at a loss.
Earlier, the US Secretary of the Treasury announced the possibility of an increase in oil prices in the event that a price cap on Russian oil is not introduced.
The Russian Foreign Ministry has warned that the anti-market plans of the G7 countries to set a price ceiling for Russian oil could lead to an increase in prices for it.