KYIV: Russia on Saturday (Sunday in Manila) denounced a $60 price cap on its oil agreed by the European Union, G7 and Australia, even as Ukraine suggested it was not tough enough and might have to be revisited.

"We will not accept this price cap," Kremlin spokesman Dmitry Peskov told domestic news agencies, adding that Russia, the world's second-largest crude exporter, was "analyzing" the move.

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