The member states of the European Union, the G7 and Australia agreed yesterday to limit the price of Russian oil to 5 dollars per barrel from December 60. Moscow announced today that it does not accept the price limit and that there will always be buyers for Russian oil.

- We do not accept that limit, Peskov pointed out, adding that Moscow "prepared" for the limit, but did not provide details.

In the meantime, "Financial Times", referring to sources from the shipping industry and analysts, reported that Russia secretly acquired 103 tankers this year, in response to oil sanctions from the West.

Russia relies heavily on tankers to transport oil. Energy consultants Rystad say Russia has acquired 103 tankers this year, partly through direct purchases and partly through the reallocation of vessels used by Iran and Venezuela, two countries also under Western sanctions.

The Kremlin's desire to organize what the oil shipping industry calls a "Russian shadow fleet" is an attempt to circumvent new international restrictions on Russian oil.

According to traders, the Russian "shadow fleet" will reduce the impact of the price cap, but not eliminate it completely. The EU and G7 punitive measures are meant to cut Moscow off from the global tanker fleet, as insurers are banned from insuring tankers carrying Russian oil, regardless of destination, unless it is sold under a capped price scheme.

The purpose of the price cap, which is a G7 idea, is to reduce Russia's revenue from oil sales while at the same time preventing a rise in global prices after the embargo took effect on December 5. Capping the price of Russian oil at $60 a barrel is a key step in the scope of Western sanctions aimed at making it harder for Russia to finance its war against Ukraine with oil revenues.

The cap would allow countries outside the EU to continue importing Russian oil, but would ban shipping and insurance companies from trading Russian oil around the world unless it sells it at a price below the cap.