Russia does not recognize the $60 oil price cap set by the G7 countries, the European Union and Australia

Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, gave an interview to the Chinese TV channel CGTN on Russia's position regarding the "price cap" for offshore supplies of Russian oil:

“Today we are in dire need of supertankers that would provide an efficient economics for transporting Russian oil from the ports of the north-west of Russia and the Azov Black Sea basin to the port of South Asia - this is India, and to the ports of China. Because in the eastern direction everything is fine here. But it is impossible to transfer all of our exports to the eastern port infrastructure. First of all, we need to solve this problem. To do this, we are acquiring, together with our partners, the so-called shadow fleet of tankers, which will be used in the interests of Russian oil exports in partner countries.”