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Zelensky: Price cap on Russian oil too high

December 4, 2022
Screen grab of President of Ukraine Volodymyr Zelensky speaking via Telegram.

CNN) — President of Ukraine Volodymyr Zelensky has slammed the price cap on Russian oil as too high.

The European Union, G7 and others set the cap at $60 a barrel, to limit the cashflow to the Russian economy.

But Zelensky says Russia will still be making a lot of money for its war chest.

And he criticized major powers for not setting the cap lower.

“The discussion on price caps, that is on limiting the export price of Russian oil has ended in the world. 

“Unfortunately, without big decisions, as you wouldn’t call it a big decision to set such a limit for Russian prices, which is quite comfortable for the budget of a terrorist state. 

“Russia has already caused huge losses to all countries of the world by deliberately destabilizing the energy market, and the world cannot dare its real energy disarmament. It’s a weak position,” Zelensky has said in a video via his official Telegram account. 

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