Bloomberg: The Kremlin is preparing to ban the sale of oil to countries that will introduce a price ceiling

The Kremlin is preparing a presidential decree that will ban Russian traders from selling oil to countries and companies that have joined the energy price cap mechanism. About this with reference to the source informs Bloomberg.

The interlocutor of the agency clarified that this was a ban on “any mention” of the marginal price in contracts for Russian oil or oil products. According to him, the decree will also include a ban on oil loading for “any countries that accept restrictions.”

EU diplomats this week postponed negotiations on a price ceiling for Russian oil. As Bloomberg reported, disagreements still remain within the EU due to the previously proposed $65 per barrel cap. Negotiations on the price ceiling were supposed to take place on the evening of November 24, they were postponed to the next week.

Poland had previously considered the proposed restriction too “soft”. According to Politico, the country’s authorities are pushing for a ceiling of $30 per barrel. At the same time, Greece and Malta believe that the price ceiling for Russian oil should be at least $70 per barrel.

The Kremlin called the price cap discussions “incomprehensible” and “inexplicable.” Press Secretary of the President of the Russian Federation Dmitry Peskov also recalled the words of Russian President Vladimir Putin, who had previously stated that Russia would not supply gas and oil to countries that would join the price ceiling.