Putin bans oil exports to countries with price caps

Created: 2022-12-27Updated: 2022-12-27, 6:00 p.m

Vladimir Putin issued a decree banning oil from being supplied to countries with a price cap.

© Sergey Guneev/Pool Sputnik Kremlin/AP/dpa

According to a decree by Vladimir Putin, the sale of oil to countries with a price cap is to be banned in the future.

Moscow - Russian President Vladimir Putin issued a decree banning the sale of oil to countries that have decided on a price cap on the raw material from February.

Deliveries of Russian oil and oil products to foreign companies and individuals are prohibited if the contracts "directly or indirectly contain the mechanism for fixing a price cap," the published document says.

dpa