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Putin renews ban on sale of Russian oil at price ceiling

The decree was initially carried into effect since February 1, 2023 and was due to expire on July 1 of this year

Russian President Vladimir Putin Russian Presidential Press Service via AP

Russian President Vladimir Putin

© Russian Presidential Press Service via AP

MOSCOW, June 26. /TASS/. Russia’s tit-for-tat measures in view of the price ceiling set for Russian oil and petroleum products are extended until December 31, 2023, according to the decree of President Vladimir Putin posted on the official web portal of legal information.

According to the document, supplies of Russian oil and petroleum products are prohibited on condition that contracts for such supplies stipulate directly or indirectly the use of the price cap introduced by Western countries.

The decree was initially carried into effect since February 1, 2023 and was due to expire on July 1 of this year.

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