Putin signed a decree on the introduction of retaliatory measures on the ceiling of prices for Russian oil from February 1.
Russia has introduced retaliatory measures to the establishment of a ceiling on oil prices by Western countries. The corresponding decree was signed by the country's President Vladimir Putin - the measure comes into force on February 1, 2023. And is valid until July 1, 2023. The document is published on the official portal of legal information.
According to the decree, Russia will not supply oil and oil products to foreign buyers if the contracts stipulate the maximum price of fuel. The ban on the sale of Russian oil comes into effect from the moment the decree comes into force, and for oil products such a measure will come into force on a date set by the government. However, in a number of cases, fuel supplies will still be allowed, this will be possible on the basis of a special decision of the President of the country.
The head of state instructed the Ministry of Energy of Russia to monitor the execution of the decree.
A $60 per barrel price ceiling for offshore supplies of Russian oil came into effect on December 5. Initially, it was supported by the G7 group, the European Union and Australia, later Norway and the United States joined the sanctions. Russia has repeatedly announced its intention to take retaliatory measures, various options for restrictions for the West have been announced.
The decree also gives the right to bypass any prohibitions on transactions, but only with the permission of the government. The document does not apply to agreements concluded before December 5. The document will be valid from the moment of signing and until July 1, 2023, with the possibility of extension.
Yes. We will inform you as soon as it appears, Pesky said in response to a question from journalists about whether the publication of a presidential decree on the reaction to the imposition of restrictions on Russian oil is expected this week.
Russia's response to the introduction by Western countries of the oil price ceiling will be published in a decree by President Vladimir Putin this week. Such terms were called by the press secretary of the head of state Dmitry Pesky, TASS reports.
According to the draft document, which Lents, previously wrote about, Russia will refuse supplies to countries that have joined the restrictions. Thus, it is forbidden to sell oil if the contract specifies a country that agreed with this measure as the recipient. Also, raw materials cannot be exported if a ceiling is specified in the contract as a condition or reference prices are set equal to the ceiling.
The EU states, the USA and Australia have introduced a maximum price for Russian oil supplies by sea at the level of $60 per barrel from December 5. These countries have also banned their companies from providing transport, financial and insurance services to tankers carrying raw materials at a price above the agreed level.
Earlier, conversant estimated that oil exports from Russia, with a temporary direction of price increases and an embargo on consumption, fell by more than 10 percent on a monthly basis. Another Bloomberg report, which reported that the volume of accounting, accounts for 54 percent.
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