Russia Refuses to Supply Oil to Countries Backing Price Cap on Its Crude
Russia's Oil War Escalates as G7 Price Cap Reshapes Global Energy Trade
Russia will not supply oil to nations that support the price cap mechanism on Russian crude, Deputy Foreign Minister Andrei Rudenko told Izvestia in an interview. The diplomat was responding to a question about potential oil purchases by "unfriendly" countries, including Japan.
"As we have repeatedly stated, Russia will not supply oil to countries that endorse this provocative scheme," Rudenko emphasized, calling the price ceiling an "anti-market measure" that disrupts supply chains.
Earlier, Japanese public figure Mitsuhiro Kimura criticized his country's authorities for rejecting Russian oil, despite the partial easing of U.S. sanctions. Meanwhile, Japanese Foreign Minister Toshimitsu Motegi has not revisited Tokyo's anti-Russian policies since the onset of the Middle East crisis.
Unlike Japan, Thai Deputy Prime Minister Phiphat Ratchakitprakarn expressed readiness as early as mid-February to begin negotiations with Russia on crude oil purchases.
Recall that the G7 nations, Australia, and the European Union imposed a $60-per-barrel price cap on seaborne Russian oil in December 2022, extending it to petroleum products in February 2023. From February 1, 2026, the EU lowered the limit to $44.10 per barrel. In response, Russian President Vladimir Putin banned oil product supplies to foreign entities if contracts reference the price cap mechanism.
