The Kremlin has repeatedly blasted the price cap introduced by Western countries as unacceptable for Russia, underlining that the country will never agree to such destruction of market pricing.
Russian President Vladimir Putin approved a decree on special measures in connection with the price cap on Russian oil, prohibiting the delivery of oil and petroleum products if the contracts envisage price limits, Kremlin reports.
The decree banning supply of Russian oil and petroleum products under price cap comes into force on February 1, 2023. However, the president may also grant special permission for products supply prohibited under the price cap.
