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Putin's decree responding to West’s oil price cap anticipated this week, says Kremlin

On December 5, an embargo on maritime Russian oil shipments to the European Union came into force

MOSCOW, December 15. /TASS/. President Vladimir Putin's decree in response to the Western-imposed price cap on Russian oil is expected this week, Kremlin Spokesman Dmitry Peskov told reporters on Thursday.

"Yes," he said, replying to a question on the matter. In response to a request to clarify the possible date of the decree's publication, the press secretary vowed "we will inform you as soon as it is out."

On December 5, an embargo on maritime Russian oil shipments to the European Union came into force. Moreover, EU states also agreed on a price cap for Russian oil delivered by sea, setting the ceiling at $60 a barrel. A similar decision was announced by the G7 and Australia. The West is also banning its companies from providing transport, financial and insurance services to tankers carrying oil from Russia at a price above the agreed-on ceiling.