The Kremlin on Saturday rejected EU efforts to hit Russia's top earner by placing a price cap on its oil and said 'Europe will live without Russian oil.'
A general view shows an oil treatment plant in the Yarakta Oil Field, owned by Irkutsk Oil Company , in Irkutsk Region, Russia March 10, 2019.
Peskov did not detail what precautionary measures the Kremlin has taken but said, "We will inform you how the work will be organized once the assessment is over," reported TASS. Despite some concern that the cap could drive up prices by draining the oil market, U.S. Treasury Secretary Janet Yellen argued that the new limits will help lower the price of oil globally.
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