Putin has signed an oil decree

Sursa: Flickr

Putin has finally delivered Russia’s response to a western price cap, signing a decree that bans the supply of crude oil and oil products to nations that impose the cap, reports The Guardian.

The ban will come into effect on 1 February and last for five months, according to the decree published on Tuesday on a government portal and the Kremlin website.

In early December, the G7, the European Union and Australia agreed to a $60-per-barrel price cap on Russian seaborne crude oil in light of of Moscow’s „special military operation” in Ukraine.

The Russian decree was presented as a direct response to „actions that are unfriendly and contradictory to international law by the United States and foreign states and international organisations joining them”.


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