Posted 1 февраля 04:19

Published 1 февраля 04:19

Modified 1 февраля 07:30

Updated 1 февраля 07:30

Russia's retaliatory measures against the oil price ceiling have come into force

1 февраля 2023, 04:19
From February 1, the sale of oil is prohibited if a price restriction is prescribed in the supply contracts.

According to the decree of Russian President Vladimir Putin, on February 1, 2023, the response to the ceiling of prices for Russian oil, previously imposed by the G7 countries and the European Union, came into force. The decree is valid until July 1.

The steps were taken in connection with the "unfriendly and contrary to international law" actions of the United States and its allies and to protect Russia's national interests. The date of the ban on the supply of petroleum products will be determined by the government.

Recall that the size of the established ceiling for oil prices from Russia is $60 per barrel. The United States intends to leave the limit at this limit, but Poland, Lithuania and Estonia demand to lower the bar. The three countries intend to achieve an indicator of up to $40-50 per barrel. Washington wants to wait until March.