Russia has banned oil sales to countries and companies that comply with a price cap agreed by Western nations earlier this month.
The price cap - which was agreed by the G7 group of nations, Australia and the EU - came into force on 5 December.
The cap prohibits countries from paying more than US$60 (NZ$95) per barrel of Russian oil.
Russia has now said its oil and oil products will not be sold to anyone imposing the price cap.
Russia will simply continue to sell to China and India, or use them as intermediaries. Trying to force a price on something you do not even own, let alone at a price well below market rate, is quite the sight to be hold.