Capping Russian oil prices won’t solve the world’s energy problems, said Indonesian Finance Minister Sri Mulyani Indrawati on Friday.
Prices are high because demand outstrips supply, which has been disrupted, and a price ceiling will not resolve that, she said.
“Putting a cap definitely is not going to solve the problem, because it is about the quantity which is not adequate, comparing to the demand which is in place,” she told CNBC’s Martin Soong at the Group of 20 meeting of finance ministers and central bank governors in Bali, Indonesia.
As the U.S. and European nations move toward winter, demand for energy will increase further, she added.
Her comments came a day after U.S. Treasury…