Russia will ban companies from selling oil at the price cap until the end of the year
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The mechanism for banning Russian companies from selling oil using a price ceiling is planned to be adopted before the end of the year, Deputy Prime Minister Alexander Novak said. According to him, the details of this mechanism are now being discussed with companies.
“Now we are discussing, finalizing the decision, discussing with companies,” Mr. Novak told reporters (quoted by TASS). He did not provide any details.
The countries of the European Union, the G7, and Australia have agreed on a cap on Russian oil at $60 per barrel. This measure has been in effect since December 5th. Bloomberg back at the end of November reportedthat the Kremlin will ban the sale of Russian oil to countries that have imposed a price ceiling on it. According to the agency, “any mention of the marginal price in contracts for Russian oil or oil products” will be prohibited.
Read more about the restrictions – in the publication “Kommersant” “Oil jumped to the ceiling”.
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