Putin extended the ban on oil sales at a price ceiling – Kommersant
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President Vladimir Putin with his by decree extended until June 30, 2024 the ban on the sale by Russian companies of oil and petroleum products at a maximum price. The measure was valid until December 31, 2023.
A decree on special measures in response to the introduction of an oil price ceiling was issued for the first time signed Vladimir Putin December 27, 2022. Exceptions are possible with special permission from the head of state. In addition, in April, Vladimir Putin removed from the ban supplies under contracts concluded with friendly countries under the terms of a price ceiling.
From December 5, 2022, the European Union, G7 and Australia introduced a price ceiling on Russian oil of $60 per barrel. On February 5, 2023, the price ceiling for Russian petroleum products came into force. As part of the 12th package of EU sanctions planned introduce measures to prevent Russia from circumventing the price ceiling.
Read more about the 12th package of sanctions in the Kommersant FM article. “The European Union has limited the decision.”
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