The measure was issued to help implement President Vladimir Putin’s December 27 decree, which bans the supply of crude oil and its derivatives from February 1, for a period of five months, to countries that adhere to the price ceiling.
The new Russian decision prohibits companies and individuals from including oil price ceiling mechanisms in their contracts.
They must also inform customs officials and the Department of Energy of any attempts to impose a price cap.
In addition, customs authorities are required to prevent shipments from leaving Russia if they find that such mechanisms have been implemented.
Starting from the fifth of February, the West intends to impose two ceilings on the prices of Russian oil products, one on products traded at a premium to crude oil prices such as diesel or gas oil, and the other on products traded at a discount to crude oil prices such as fuel oil.
The European Union countries have imposed a ceiling on the price of Russian oil transported by sea last December at $ 60 a barrel.
The countries of the European Union, the Group of Seven and their allies believe that the decision to impose a ceiling on Russian oil prices will prevent Moscow from economic revenues that it may use to finance the war in Ukraine, which broke out last February and is approaching the completion of its first year, without any indications of its end soon.
The Ukrainian crisis caused major problems for the global economy, most notably the rise in food and energy prices, which severely increased inflation rates in various parts of the world, and its consequences are still continuing.
#Moscows #response #force. #Russia #prohibits #domestic #oil #exporters #adhering #Western #price #ceiling
