The Kremlin emphasized that Russia will stop selling oil to the bare -priced countries, warning about the instability of the global oil market.

Price companies will not be among customers who buy Russian oil, spokesman Kremlin Dmitry Peskov said today.

Mr. Peskov's comment repeated the view that Russian Deputy Prime Minister Alexander Novak and the Governor of the Central Bank of Russian Bank Elvira Nabiillina have previously launched.

The Finance Minister of the G7 group is expected to meet on September 2 to discuss the ceiling price plan with oil imported from Russia, with the goal of reducing Moscow's revenue.

The factory at Yarakta oil field in Irkutsk province, Russia in March 2019.

Earlier this year, the European Union (EU) imposed a part of the ban on Russian oil.

The head of the European Commission Ursula Von Der Leyen today said that it is time for the EU to consider the ceiling price for Russian gas.

Peskov said it was European citizens who had to pay for punishments to Russia.

There is a fever in the energy market.

The Kremlin said Russia is studying the ceiling price for its export oil how will impact the economy.

Before Russia put troops to Ukraine in February, Europe received nearly half of the oil exported from Russia.

For many decades depending on Russian gas, it makes it difficult for Europe to find solutions for the prolonged energy crisis when Moscow cuts the supply.

After 6 months of suffering a series of unprecedented sanctions from the West, the Russian economy faced many difficulties, but was still motivated by selling energy.