Russian President Vladimir Putin extended the actions of response measures in connection with the establishment of the maximum oil and oil products from Russia by some foreign states until June 30, 2025. This is stated in the decree of the head of the Russian state, published on the official Internet portal of legal information.
In particular, the document provides for the supply of Russian oil and petroleum products, provided that the contracts for these deliveries directly or indirectly provide for the use of the price ceiling introduced by the countries of the “large twenty” (G7), the EU and Australia.
oil supplies to those who use price restrictions can be carried out only with Putin’s special permission.
The decree on retaliatory measures to the ceiling of prices entered into force on February 1, 2023 and was supposed to operate until July 1, 2023. The action of this measure was extended several times.
The ceiling of prices for Russian oil was introduced by the G7 countries, it has been operating since December 5, 2022. The restriction is $ 60 per barrel.