Russian President Vladimir Putin signed a decree on Friday, December 13, extending Moscow’s retaliatory measures until June 30, 2025 in response to the West’s capping of Russian oil prices, according to a document published on Friday, December 13.
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| An oil refinery on the outskirts of Moscow, Russia. |
| Photo : AFP/VNA/CVN |
The initial decree, issued on December 27, 2022, banned the export of Russian oil and petroleum products under contracts including the price cap set by the Group of Seven (G7) countries, the EU and Australia .
This ban has been extended several times and the latest extension was to remain in effect until December 31, 2024.
In December 2022, the EU set a cap of US$60 per barrel on Russian maritime crude oil, a measure adopted by the G7. From February 5, 2023, similar price restrictions were applied to petroleum products from Russia.
Xinhua/VNA/CVN
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