The government instructed to approve the procedure for analyzing prices for export oil

The government instructed the Ministry of Energy, together with the Ministry of Finance, to approve the procedure for monitoring prices for oil supplied for export, should from the published decision.

“The Ministry of Energy of the Russian Federation, by March 1, 2023, to approve, in agreement with the Ministry of Finance of the Russian Federation, the procedure for monitoring prices for Russian oil supplied for export,” the document explains the implementation of the presidential decree on response measures to the price ceiling for Russian oil.

Kommersant, citing sources wrotethat the government plans to soon adopt a resolution on the implementation of the ban on oil supplies to countries that have joined the price ceiling. According to the interlocutors of the newspaper, the draft resolution was prepared by the Ministry of Energy.

Sources familiar with the document said that Russian companies and individuals supplying oil abroad will be required not only to exclude provisions on price restrictions from contracts, but also to monitor the implementation of this requirement by “foreign buyers, including traders, agents”, in case of further resale of fuel.

On December 27, 2022, Russian President Vladimir Putin signed a decree on retaliatory measures to the oil price ceiling. According to the document, the supply of raw materials to countries that have joined the restriction is prohibited. It is emphasized that this measure is applied at all stages of deliveries to the final buyer. The supply ban comes into effect on February 1, 2023.