Russia preparing response to oil, too soon to talk about its fiscal impact - Siluanov

*MOSCOW. Dec 8 (Interfax) - Russia is preparing response measures over the price cap on its oil imposed by G7 countries and the EU, Finance Minister Anton Siluanov said.

A price cap of $60 per barrel of Russian oil came into effect this week.

"It's too soon to talk about its impact on the budget. We are now preparing countermeasures regarding how our companies will react to the introduction of the ceiling," Siluanov told reporters when asked to assess the fiscal repercussions of the price cap.

This is an "absolutely non-market" mechanism, he said.

"But you can't deceive the market. If there is control anywhere it means that as a result both prices and consumption volumes in the market will also be affected, and so on. The Russian government is now formulating response measures; we, as the president has said, will not sign contracts which mention regulated prices, price caps. So in the near future, Russia will respond to the decisions that were made regarding the cap," Siluanov said.

"I repeat: non-market measures skew the market, and in any case this will affect either prices or supply volumes on the market," he said.