Russian Deputy Foreign Minister Sergei Ryabkov vowed the West to respond after setting a ceiling for the Russian oil price. He also warned Washington against testing Moscow's patience. Russian Deputy Prime Minister Alexander Novak said that his country would resort to new logistical mechanisms and chains to export its oil in response to the Western move.
Ryabkov said today, Tuesday, that the West should prepare for the Russian response to its imposition of an upper limit on the price of oil.
He added that Russia may consider lifting the optional ban on deploying medium and long-range missiles if the West continues to escalate.
"We warn the United States and NATO not to take rash steps and to test Moscow's patience," Ryabkov said.
In turn, Novak said, "Our country is one of the largest oil suppliers, and the demand for our oil was and will remain. Yes, there will be changes to the logistical mechanisms and supply chains, but we do not see a disaster in that."
Russia alternatives
The Russian Deputy Prime Minister added that his country will resort to logistical mechanisms and new chains to supply its oil after some countries put a ceiling on the price of Russian oil, and he did not rule out the possibility of reducing Russian oil production in small quantities when necessary in light of the current fluctuations in global energy markets.
On the other hand, Bloomberg quoted sources as saying that Russia is considering setting a minimum price for its international oil sales.
These developments come a day after the entry into force of the embargo on Russian oil and the new price ceiling, which was set by the European Union, the Group of Seven and Australia at the level of $ 60 a barrel.
The new decisions prohibit, directly or indirectly, the provision of technical assistance, intermediation or financing services, or financial assistance related to trade, brokerage, or transportation, including by ship-to-ship shipment, or to third countries, of crude oil or petroleum products Originating in Russia or exported from Russia.
Besides, the EU's "oil" sanctions package included an embargo on offshore oil supplies from Russia.