Japan Calls Russian Oil Price Cap “Insulting”

Japan Calls Russian Oil Price Cap “Insulting”

The decision by Western countries to impose a cap on the price of Russian oil is dictated by their desire to protect themselves from price spikes for this resource, which is “insulting” and unacceptable “distortion” of the market, according to an article published on Yahoo News Japan.

According to the article, the measure “raises nothing but mixed feelings,” while the “design” of the sanctions raises questions.

Export price controls, for example, are likely designed to limit oil price volatility and protect Europe and the US from price spikes, which “cannot withstand further increases in energy prices,” at a time when the rest of the world is suffering from inflation, the article said.

“Setting a certain cap on market prices, which change daily, is far from the ideology of the West, which has a deep respect for freedom,” the author stresses.

According to him, the way developed countries “gather and jointly distort the market is simply insulting”, such a decision will lead to negative consequences in the world.

“Restricting the freedom of financial markets is unacceptable,” he concludes.

 430 total views,  2 views today

Leave a Reply

Your email address will not be published. Required fields are marked *