President Vladimir Putin signed a decree prohibiting the supply of Oils and petroleum products in response to the European Union price Cover from February 1st for Five months.
the group of Seven major powers, the European Union and Australia, agreed this month to $60 a barrel price hat on Russian crude oil transported by sea as of December 5 over Moscowspecial military proces” in Ukraine.
The Kremlin decree read: “This … enters force on February 1, 2023, effective through July 1, 2023.”
Crude oil exports will be banned from February 1, but the date for The ban on oil products will be determined by the Russians government It could be after February 1st.
The decree includes a paragraph that allows Putin to overturn the ban in special cases.
