Russian President Vladimir Putin has decreed a ban on the sale of oil to countries and companies that are complying with the limitation on the maximum price of a barrel of oil agreed as a sanction for the invasion of Ukraine.
The decree will be in force from February 1 to July 1 of next year and includes a clause allowing the Russian leader to make exceptions by “special decision.”
The document cited by France-Presse says that the “supply of Russian oil and its derivatives to foreign entities and persons is prohibited if the purchase and sale contracts” must respect price limits “directly or indirectly.”
Earlier this month, a group of countries, including the European Union, the G7 and Australia, agreed to a price cap of $60 a barrel for Russian crude.
Last week, when he announced that he was preparing measures to respond to the maximum price ceiling, Putin assured that the Russian budget would not be affected, but warned that the world could face a drastic rise in oil prices.
Source: TSF
