Putin threatens oil production cuts over price cap

Russian president says future prisoner swaps with US are attainable and Russia’s hypersonic weapons would defend it if attacked.

President Vladimir Putin says on a go to to Bishkek, Kyrgyzstan, on December 9, 2022, that Russia is not going to promote oil to any international locations that put a value cap on the commodity [Sergei Bobylyov/Reuters]

Russia is not going to promote oil to any nation that imposes a value cap on its oil exports and is contemplating lowering its oil manufacturing, President Vladimir Putin says.

On Monday, the Group of Seven, European Union and Australia imposed a value restrict on Russian oil of $60 per barrel in a transfer aimed toward lowering Moscow’s capability to finance its struggle in Ukraine.

“I've already mentioned that we merely is not going to promote to these international locations that make such selections,” Putin mentioned on Friday at a information convention held after a regional summit in Kyrgyzstan’s capital, Bishkek.

“We'll think about a attainable discount in manufacturing if vital,” he added, calling the worth cap a “silly determination” that's “dangerous to international power markets”.

Putin additionally touched on a number of different topics in the course of the information convention. Right here’s a roundup of what he mentioned:

• “Who's Yashin?” requested the Russian chief, responding to a query from a reporter. Only a few hours earlier, opposition chief Ilya Yashin, 39, was sentenced to eight and a half years in jail for spreading “pretend info”. Yashin was indicted after discussing proof of Russian atrocities perpetrated within the Ukrainian metropolis of Bucha, north of Kyiv, casting doubts on the Kremlin’s narrative that mentioned such stories had been fabricated as a “provocation” towards Russia. Putin mentioned it was unsuitable to doubt a courtroom’s determination.
• Putin mentioned additional prisoner swaps between the USA and Russia have been attainable and contacts between the 2 international locations’ intelligence companies would proceed. He made the remark a day after US basketball star Brittney Griner was swapped for arms seller Viktor Bout. “Contacts proceed. The truth is, they've by no means stopped,” Putin mentioned. “… We don't reject persevering with this work sooner or later.” Russia continues to carry Paul Whelan, a former US marine who was convicted of espionage in 2020 in a trial that US diplomats mentioned had been unfair and opaque.
• Putin mentioned Russia has no mandate to launch a preventive first nuclear strike, in contrast to the US, however Russia’s superior hypersonic weapons would guarantee Russia may reply forcefully if it ever got here below assault.
• The Russian chief acknowledged issues with procuring gear and garments for the a whole lot of 1000's of troops Moscow has conscripted to battle in Ukraine in current months. He mentioned a number of the points associated to supplying the 300,000 males who have been referred to as up in a mobilisation drive in September and October have been now easing.
• Putin mentioned he was “disillusioned” by feedback made by former German Chancellor Angela Merkel, who informed a German journal that peace agreements aimed toward ending the battle in jap Ukraine that started in 2014 had been an try to “give Ukraine time” to construct up its defences. Russia-backed separatists seized elements of jap Ukraine following Russia’s 2014 annexation of the Crimean Peninsula. The peace offers have been by no means absolutely applied.
• Putin mentioned Russia would seemingly have to succeed in a peace settlement concerning Ukraine sooner or later, however felt betrayed by the breakdown of the sooner Minsk agreements. Putin mentioned mediators Germany and France had betrayed Russia and have been now pumping Kyiv with weapons.