Russia, the world's second largest oil exporter, will not sell oil that is subject to a Western price cap even if it has to cut production, President Vladimir Putin's point man on energy said on Sunday.
The Kremlin said the price cap would roil global energy markets but would not affect Russia's ability to fund its military operation in Ukraine.
The G7 nations and Australia on Friday agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland, which wanted it even lower.
The $60 price cap on seaborne Russian oil is not serious and will do little to deter Russia from waging its war, Ukrainian President Volodymyr Zelenskiy said.
Russia said it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports.
(Compiled by Himani Sarkar; Editing by Stephen Coates)