MOSCOW, June 10. /TASS/. Russian President Vladimir Putin has extended response measures to maximum prices for Russian oil and petroleum products set by certain foreign states until December 31, 2025, according to a decree released on the official website of legal information.

The document bans the supply of Russian oil and petroleum products if contracts for these supplies directly or indirectly involve a price cap introduced by the G7 countries, the European Union (EU), and Australia.

The decree on response policies came into force on February 1, 2023, and it was originally supposed to be in effect until July 1, 2023. However, the measure was extended several times after that.

On December 5, 2022, the European Union’s embargo on seaborne oil supplies from Russia came into force. G7 countries, the EU, and Australia imposed a price cap of $60 per barrel on seaborne Russian oil for their subordinate vessels and territories. From February 5, 2023, similar restrictions applied to supplies of petroleum products from Russia. The maximum price was set at $100 and $45 per barrel, depending on the category of oil products.