Putin bans Russian oil exports to countries that implement price cap
2022-12-28 09:08:20 source：Reuters
December 27, 2022
MOSCOW, Dec 27 (Reuters) - President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap.
The Group of Seven major powers, the European Union and Australia agreed this month to a $60-per-barrel price cap on Russian seaborne crude oil effective from Dec. 5 over Moscow's "special military operation" in Ukraine.
The cap is close to the current price for Russian oil, but well beneath the windfall price Russia was able to sell for this year and that helped offset the impact of financial sanctions on Moscow.
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https://www.reuters.com/business/energy/putin-bans-russian-oil-exports-countries-that-imposed-price-cap-decree-2022-12-27/