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Putin's decree not a response to cap on Russian energy prices, assures Kremlin

Earlier, Putin said that he intended to sign a decree on retaliatory preventive measures in response to the introduction of a cap on Russian oil prices anytime between Monday and Tuesday

MOSCOW, December 23. /TASS/. Russian President Vladimir Putin's decree on retaliatory measures against some countries' unfriendly actions, which was published on Thursday, is not a response to the imposition of a cap on prices for Russian energy resources, Kremlin Spokesman Dmitry Peskov clarified to reporters on Friday.

"No, this is a decision that is not linked to these new European developments. This is, in fact, a response to the actions of a number of unfriendly countries," the Kremlin spokesman differentiated.

Earlier, Putin said that he intended to sign a decree on retaliatory preventive measures in response to the introduction of a cap on Russian oil prices anytime between Monday and Tuesday.

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 transportation, financial and insurance services to tankers carrying oil from Russia at a price above the agreed-on ceiling.

Russia is readying a decree in response to these measures. Earlier, Deputy Prime Minister Alexander Novak said that Russia intended to create and launch a mechanism by the end of 2022 that would prohibit Russian companies from trading oil with countries complying with the price cap.

On December 22, the European Union officially approved a dynamic ceiling on gas prices at the level of €180 per megawatt-hour (approximately €1,850 per 1,000 cubic meters). The restriction will enter into force on February 15, 2023.

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