Putin extended until the end of 2023 retaliatory measures to the oil price ceiling
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Russian President Vladimir Putin has extended until December 31, 2023 a decree on retaliatory measures to the price ceiling for Russian oil and oil products. The decree was published on the official Internet portal legal information.
In December 2022, Vladimir Putin signed a decree prohibiting the supply of Russian oil to foreign persons if the contracts provide for a ceiling price. The exception is the “special decision” of the president. The decree was valid until July 1, 2023.
The EU states, G7, Australia, Norway and other countries introduced a price ceiling for oil supplied from Russia at $60 per barrel on December 5, 2022.
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