Deputy PM Novak: Russia to cut oil exports to world markets if price caps are imposed

MOSCOW. July 21 (Interfax) - Russia will not export oil to the world market if price caps are imposed on Russian oil, Russian Deputy Prime Minister Alexander Novak told the Channel One television station.

"If these prices that are being discussed are below the cost of producing this oil, then, beyond any doubt, Russia certainly will not deliver this oil to the world markets. In other words, we simply will not operate at a loss," Novak said.