MOSCOW, February 10. /TASS/. Russian oil companies have not asked for permission to carry out transactions on supply of oil and petroleum products under price caps that have been introduced by a number of Western countries, Deputy Prime Minister Alexander Novak told reporters.

"No, there have been no such requests," he said.

On December 5, 2022, an embargo on maritime Russian oil shipments to the European Union came into force. G7 nations, the EU and Australia agreed on a price cap for Russian oil delivered by sea, setting the ceiling at $60 a barrel. Moreover, starting February 5, 2023, similar restrictions on deliveries of petroleum products from Russia were enforced as the EU Council officially greenlighted the decision, in conjunction with the G7, to introduce a price ceiling on Russian petroleum products supplied by sea at $100 for premium oil and at $45 for discount.

On December 27, 2022, President Vladimir Putin signed a decree on the application of special economic measures in response to the establishment of a price cap for Russian oil products and oil by a number of countries. The ban on oil supplies at ‘capped’ prices will be in effect from February 1 to July 1, 2023. A separate paragraph of the decree leaves the head of state the right to make special decisions on the supply of oil and oil products, the implementation of which is prohibited by the decree.