Russia rejects oil price cap agreed by EU, G7 | Business

The price cap comes into effect Monday, along with an EU embargo on Russian crude oil.

"We will not accept this price cap," Kremlin spokesman Dmitry Peskov told domestic news agencies, adding that Russia, the world's second largest crude exporter, was"analysing" the move. The embargo will prevent seaborne shipments of Russian crude to the European Union, which account for two thirds of the bloc's oil imports, potentially depriving Russia's war chest of billions of euros.

"We always achieve our goal and the economy of Russia will be destroyed, and Russia itself will pay and be responsible for all crimes," Ukraine's presidential chief of staff Andriy Yermak said on Saturday.

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Business Maverick: EU closes in on $60 cap for Russian oil as Poles hold out for tougher actionThe European Union is closing in on a deal to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.
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