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Russian block on oil sales subject to price cap to start working this year - Ifax

Reuters WORLD
Published December 06,2022
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Russia's Deputy Prime Minister Alexander Novak attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. (REUTERS File Photo)

Russia's mechanism to ban sales of oil that are subject to a price cap imposed by Western countries should begin working before the end of the year, the Interfax news agency quoted Deputy Prime Minister Alexander Novak as saying on Tuesday.

Novak expects a slight output decline following new sanctions.