Putin Responds to Oil-Price Cap With Sales Ban for Participants
Russia,Energy,Oil,Gas Prices,Trade,Business,G7,European Union,Australia,Ukraine War,Sanctions
From the Center
AllSides Media Bias Rating: Center
The Kremlin banned exports of Russian crude oil and refined products to foreign buyers that adhere to a price cap, but Moscow held back from the most drastic retaliatory measures that could have further disrupted global oil supplies.
The restriction on Russian crude exports will begin on Feb. 1 and last until at least July 2023, according to the decree published Tuesday. The ban on oil products will start at a date to be determined by the Russian government, but not earlier than Feb. 1.
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