Iranian Official Calls EU Decision on Russian Oil Price Cap 'Tribute' to US Antics

MOSCOW (Sputnik) - The EU's decision to set a price cap on Russian oil is a "tribute" to the United States, since the bloc's economy is not strong enough to determine the price of Russian oil and is itself suffering from the ceiling, Fereidoun Abbasi-Davani, a member of the Iranian parliament commission on energy, told Sputnik.

"This decision is more of a political, propaganda act. Europe is not powerful enough to set a price cap on Russian oil," Abbasi-Davani said, adding that the EU, being under US pressure, "is paying tribute to Washington's antics."

The lawmaker, who also headed the Iranian Atomic Energy Organization from 2011 to 2013, expressed belief that such a policy of European countries would not last long, and "soon they will come to their senses."

The official added that the price cap would most likely not harm the Russian economy, while European countries would have to follow Moscow's political line.

"Perhaps, the EU will follow this decision visually, but behind the scenes they will continue to make deals with Russia," Abbasi-Davani said.

In December 2022, the European Union imposed an embargo on Russian crude oil, and along with the Group of Seven and Australia, agreed to a $60 per barrel price cap on oil. Last week, the EU agreed to the European Commission's proposal of a $100 per barrel ceiling for Russian diesel fuel, and $45 per barrel for discounted products such as fuel oil. The measure went into effect on Sunday, February 5.

In response, Moscow banned the supply of Russian oil and oil products if the contract directly or indirectly provides for a price cap, in line with a decree signed by Russian President Vladimir Putin. At the same time, the presidential decree allows for the possibility of issuing special permits.