Price Ceilings Could Harm Energy Markets, Fraught With Crisis, Russian Foreign Ministry Says

MOSCOW (Sputnik) – The global energy industry is suffering from irresponsible politicized decisions, including in what concerns price ceilings, and the situation risks developing into a crisis, Yury Sentyurin, Ambassador-at-Large of the Russian Foreign Ministry, told Sputnik.
Sputnik
"Last year, economic relations were artificially made dependent on geopolitics through irresponsible politically motivated decisions, the use of essentially anti-market mechanisms and restrictions, and the language of ultimatums," Sentyurin said.
He added that, as a result, the state of global energy is currently characterized as difficult, with the risk of developing into a crisis.
Cooperation With Russia Contributes to Global Security, Chinese Defense Minister Says
Sentyurin emphasized that "the endless manipulations around the oil price ceiling are obviously destructive" and have a negative impact on the investment climate, while the recent OPEC+ oil production cuts are "pre-emptive measures aimed at balancing supply and demand, preventing a collapse in prices for ‘black gold’ and market destabilization."