Western leaders have used sanctions throughout the invasion of Ukraine to choke off Russian revenues. They added to those penalties on Monday when their cap on the price of Russian oil came into effect.

Leaders in the European Union, the Group of Seven nations, and Australia are limiting Russian crude to 60 dollars a barrel. EU officials have also banned imports delivered by sea.

President Vladimir Putin's spokesperson said the economy can "fully meet the needs " of the "special military operation." "It is obvious and indisputable that the adoption of these decisions is a step toward destabilizing world energy markets," said Dmitry Peskov.

Officials in China and India have taken advantage of the war by buying Russian oil at a discount. They have come under pressure from Western leaders to cut back.

A spokesperson for the Chinese Foreign Ministry spokesperson said China and Russia will always cooperate on energy "in the spirit of mutual respect and mutual benefit." Mao Ning called on all parties to make "constructive efforts" toward ensuring the security of the global supply.

India's External Affairs Minister said the EU imports more fossil fuels from Russia than his country does. Subrahmanyam Jaishankar said Indians would prioritize their own energy needs.