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Putin warns of "serious repercussions" for setting a price cap on Russian oil

Putin warns of "serious repercussions" for setting a price cap on Russian oil

By م.زهير الشاعر

Published: November 24, 2022

Russian President Vladimir Putin warned, during a phone call with the Iraqi Prime Minister, that Western plans to impose an oil price cap could have "serious consequences" for energy markets.

According to the Kremlin statement, "President Vladimir Putin stressed, during a phone call with Iraqi Prime Minister Mohammed Shia' Al Sudani, that such actions contradict the principles of market relations and are likely to lead to serious consequences for global energy markets."

The two sides gave a positive assessment of the joint work involving Russia and Iraq within the framework of "OPEC +", making it possible to ensure the stability of the global oil market.

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