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Russian President Vladimir Putin signed today a presidential decree prohibiting the sale of Russian oil to countries that set a ceiling on its price. This step comes in response to the measures taken by Western countries to impose a ceiling on Russian oil prices.
The Russia Today website stated that the decree prohibits the supply of oil and petroleum products from Russia to countries that impose a price ceiling in contracts.
The ban imposed on the supply of oil and petroleum products from Russia will come into effect from February 1st to July 1st.
On the 5th of this month, the sanctions imposed by the European Union on Russian oil entered into force, and European countries stopped accepting Russian oil that is transported by sea, and the G7 countries, Australia and the European Union announced setting a ceiling for the price of Russian oil during sea transport at the level of 60. dollars per barrel, and imposing a ban on transporting and securing oil whose price exceeds this ceiling.
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