Kremlin: new gas sanctions encroach on market processes

Attempts of the West to impose a ceiling for Russian gas prices encroach on market mechanisms, Kremlin Spokesman Dmitry Peskov told reporters.

"This is the violation of the market process of pricing, the encroachment on market processes. Any references to a ‘ceiling’ are unacceptable," the Kremlin spokesman said.

Russia will need time to weigh up pros and cons and choose a response to new gas sanctions, Peskov noted.

"Certainly, time will be needed to thoroughly weigh up all upsides and downsides when working out solutions. You know the oil process is a bit protracted. Nevertheless, it [the Moscow’s response to the oil price cap] will be published. The same will be with gas," Peskov said.

"Certainly," he added in response to a question whether such sanctions can be regarded as unacceptable.