Russian authorities have rejected a price cap on the country’s oil set by Ukraine’s Western supporters and are threatening to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel. The limit is set to take effect Monday, along with an EU embargo on Russian oil shipped by sea. Kremlin spokesman Dmitry Peskov said Saturday that Russia needs to analyze the situation before deciding on a specific response but that it would not accept the price ceiling. Russia’s permanent representative in Vienna warned, "From this year, Europe will live without Russian oil.”