Vladimir Putin introduced retaliatory measures for countries that oil prices limit set

Russian President Vladimir Putin signed a decree introducing retaliatory economic measures for foreign countries that set a ceiling on prices for Russian oil. The document is published on the legal information portal.

Thus, from February 1, 2023, there will be a ban on the supply of petroleum products from Russia concerning those foreign states that directly or indirectly indicated in the contracts the use of the marginal cost fixing mechanism.

At the same time, oil can be exported based on special permission of the Head of State. The measures will last until July 1, 2023.

Author: Ivan Vavilov