"I believe, and I base this on the opinion of specialists, that this idea of placing a ceiling on the price of Russian oil specifically will create an enormous distortion in the oil market. This will cause prices to go out of control," Faria said on the sidelines of the United Nations General Assembly.
"I consider this idea [price caps on Russian oil] to be negative if it is applied by those who apply it, as has happened with the thousands of coercive measures set against Russia. They are going to see how this [step] will return as a boomerang against them," Faria noted.
"We also evaluated the situation that has been occurring with regard to trade, in relation to the sanctions to which both Russia and Venezuela have been subjected, which has been somewhat complex in terms of trade exchange, but not impossible. We are already finding ways for this to continue working," Faria said.
"The relations between Venezuela and Russia are strategic. We are brotherly countries. President [Nicolas] Maduro and President Putin have a very friendly relationship and a level of rapprochement to carry out all the projects they have decided to develop," Faria said, adding that "there is no reason why this should change after the beginning of the special military operation."