Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian Foreign Ministry: Reimposing sanctions on Iran is illegal
Occupied Palestine: Israeli occupation forces raid homes during a raid on the village of Al-Burj, south of al-Khalil
Hamas spokesperson Hazem Qassem: The movement remains committed to implementing the ceasefire agreement through the handover of another Israeli captive’s body earlier this evening
Al-Arida to Al Mayadeen: We were deprived of all means of communication, and we were isolated from the other detainees so as not to receive any piece of information
Freed prisoner and leader of Operation Freedom Tunnel, Mahmoud al-Arida, to Al Mayadeen: Were it not for the pro-Resistance media, the situation of the isolated detainees would have been catastrophic
Iranian Foreign Ministry: The sanctions reinstated by the E3 are non-binding, and we deem them illegal
Iranian Foreign Ministry: Iran, Russia, and China will send a letter to the United Nations and the Security Council tomorrow confirming the expiration of Resolution 2231 and the end of sanctions
Local Afghan sources: Pakistani airstrikes hit the Arghun district of Paktika province, southeastern Afghanistan, after the ceasefire expired
Hamad to Al Mayadeen: We will return the bodies and abide by the agreement we approved, but what is happening now is an attempt by "Israel" to exert more pressure
Hamad to Al Mayadeen: The issue of the [Israeli] bodies is complex and requires time, especially since the occupation changed the features of Gaza, which we explained to the mediators

Russia planning to ban oil supplies to countries requiring price cap

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Dec 2022 09:44
  • 1 Shares
3 Min Read

The Russian Deputy PM stresses that Russia will respond to the oil price cap set by the G7 countries and the European Union.

  • x
  • Russian Deputy Prime Minister Alexander Novak (Reuters)
    Russian Deputy Prime Minister Alexander Novak (Reuters)

Russian Deputy Prime Minister Alexander Novak pointed out on Friday that Russia is planning to ban oil deliveries to countries requiring compliance with the oil price cap and is ready to cut oil production by 5-7% in early 2023 as a response measure to the price cap imposed by the West on Russian crude oil.

Novak reminded of Russia's planned decree that will respond to the oil price cap set by the G7 countries and the European Union.

"A ban on the supply of oil and oil products to those countries and those entities that will require compliance with the oil price cap in the contracts is a part of that decree," the Russian diplomat said in an interview with the Rossiya 24 broadcaster.

"We are ready to partially reduce [oil] production; at the beginning of the next year, we may have a decrease of some 500,000-700,000 barrels a day. This is about 5-7% for us," Novak explained, highlighting that this volume is insignificant, but "such risks exist."

Oil production in Russia to rise, gas production to drop

Related News

Sharaa hopes Russia will help rebuild army: Syrian source to Reuters

Middle East states want Russia to maintain presence in Syria: Lavrov

In the same context, Novak pointed out that oil production in Russia will increase by 2% to 535 million tons and oil refining will increase by 5%, but the gas output will decrease by 18-20% to 671 billion cubic meters by the end of 2022.

"By the end of the year in the oil industry, we will even have a 2% increase in production to 535 million tons compared to last year. We will produce about 5% more petroleum products than last year," the Russian Deputy Prime Minister told Rossiya 24.

He added that "there is a partial decrease in the gas industry, about 18-20%. Nevertheless, our gas industry will produce 671 billion cubic meters of gas this year. This is also a large volume, of which about 470 billion cubic meters will go to the domestic market."

On Thursday, Russian President Vladimir Putin signed a decree on the application of special economic measures in the sphere of natural gas supplies due to unfriendly actions of the US and countries and organizations joining such actions.

On the same day, the Russian leader considered that the introduction of a price cap on natural gas "will not lead to anything good," adding that the cap is "another attempt at administrative regulation of prices."

Putin warned that the price cap on Russian oil may lead to the disintegration of the world’s energy sector and skyrocketing prices.

Read more: Russia-India trade to break record in 2022

  • Moscow
  • G7
  • Russia
  • Alexander Novak
  • European Union
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Residents remove debris from a house damaged by Wednesday's two drone strikes, in Kabul, Afghanistan, Thursday, Oct. 16, 2025 (AP)
Politics

Afghanistan-Pakistan negotiations to begin in Doha: Exclusive

Palestine Action wins court fight to challenge UK terror ban
Politics

Palestine Action wins court fight to challenge UK 'terror' ban

John Bolton surrenders after classified documents indictment
Politics

John Bolton turns himself in after classified documents indictment

GSF, GMTG slams EU over complicity in Gaza genocide
Politics

GSF, GMTG slam EU over complicity in crimes against Palestinians

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS