Vladimir Putin signed a decree that implements a decision that everyone has been waiting for some time, namely the ban on the export of oil to countries where its price is capped based on a directive that the European Commission voted, but even countries outside Europe apply similar measures.
Vladimir Putin had threatened to implement a decision of this kind, and in the end he did, so it remains to be seen to what extent it will be implemented, because it is known that Russia wants to sell oil to as many countries as possible to be able to finance the war he is waging in Ukraine.
"Russia bans oil exports to countries that respect the price ceiling. The ban applies to oil supplied under contracts that "directly or indirectly" stipulate a price cap. It is not clear whether it will apply to oil prices below $60 a barrel under contracts that do not mention the ceiling."
⚡️Russia bans oil exports to countries that abide by the price cap.
The ban applies to oil supplied under contracts that "directly or indirectly" stipulate the price cap. It is not clear if it will apply to oil priced below $60 per barrel under contracts that do not mention the cap.
- The Kyiv Independent (@KyivIndependent) December 27, 2022
