27 December 2022 at 17:27 Putin introduces ban on oil exports to countries with price caps Russian President Vladimir Putin on Tuesday issued an order banning the export of oil and oil products to countries that have introduced price caps on Russian oil. Reuters reports. The ban comes into force from 1 February and lasts until 1 July 2023. The EU and the G7 countries have introduced a price ceiling of 60 euros per barrel of Russian oil. The oil price ceiling is intended to help reduce Russia’s income from the sale of crude oil to third countries, and comes on top of other similar sanctions from the EU, USA, Canada, Japan, Australia and the UK. Norway has also joined the oil price cap.
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Putin introduces a ban on oil exports to price cap countries – Latest news – news
