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Former Russian President Dmitry Medvedev said on Tuesday a proposal reported from Japan to limit the price of Russian oil around half the current level will cause less oil in the market and can push prices above $ 300- $ 400 per barrel.
Commenting on the proposal, which was reportedly submitted by Prime Minister Fumio Kishida, Medvedev said Japan “would not have oil or gas from Russia, and there was no participation in the Sakhalin-2 LNG project” as a result.
President Vladimir Putin signed a decree last week who won full control over the Sakhalin-2 gas and oil project in the Far East Russia, a step that could force Shell and Japanese company Mitsui & Co and Mitsubishi Corp.
To remain in a new company that will replace the existing operating company, Sakhalin energy investment company, foreign shareholders need to ask the Russian government to share in one month.
The feasibility of introducing a temporary import price limit to Russian fossil fuels, including oil, in an effort to limit Russian resources to finance its military campaigns in Ukraine.
There will be less oil on the market, and the price will be much higher. Moreover, higher than the predicted astronomy price of $ 300-400 per barrel, Medvedev, now the Deputy Chairman of the Russian Security Council, wrote on social media.
In a comment about a proposal to introduce a boundary of about half the current price for Russian oil, a Kremlin spokesman said on Monday that other countries might not agree with that.
