Russian President Vladimir Putin on Tuesday signed a decree with measures in response to the recent decision to impose a price cap on Russian crude oil, including a ban on supplying these countries with Russian oil and oil products.
The decree «On the implementation of special economic measures in the fuel and energy sector in connection with the establishment by some foreign states of a price ceiling for Russian oil and oil products» will be in force from February 1, 2023 and until July 1, 2023.
The measure provides for a ban on the supply of oil and oil products from the Russian Federation «to those who prescribe a maximum price in contracts,» TASS agency reports.
In addition, the order initialed on Tuesday also prohibits the supply of Russian oil to foreign buyers if the contract uses a price cap mechanism.
In this regard, the Russian Energy Ministry will monitor compliance with the presidential decree on retaliatory measures against the introduction of a ceiling on Russian oil prices.
In early December, the European Union member states, together with the G7 and Australia, agreed to set a $60 ceiling on the price of Russian seaborne oil.
Source: (EUROPA PRESS)
