(Reuters) – Russian President Vladimir Putin said in a phone call with Iraq’s new Prime Minister Mohammed Shia al-Sudani on Thursday that the West would try to cap Russia’s oil prices. The Kremlin said it had discussed attempts by countries.
Putin told Sudan that the ceiling would have a severe impact on global energy markets.
A Kremlin statement “referenced that many Western countries are trying to impose limits on the price of oil from Russia.”
“Vladimir Putin stressed that such actions would be contrary to the principles of market relations and would very likely have serious consequences for global energy markets.
The European Union and the United States have stepped up efforts in recent days to reach an agreement on where to set a price cap on imports of Russian crude oil.
Both Russia and Iraq are major oil producers and members of the OPEC+ agreement that sets oil production levels to control world prices.
Written by Jake Cordell.Editing by Kevin Liffey
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