Putin excludes friendly countries from the scope of “price ceiling”

The decree, which includes the amendments to Putin’s decision banning the supply of oil and petroleum products to countries participating in Russia’s ceiling price application, has been published in the country’s legal information system.

According to the decree, which is stated to have entered into force as of today, friendly countries were excluded from the scope of the oil and oil supply ban to countries participating in Russia’s ceiling price application.

With the decree signed by Putin on 27 December, the sale of oil and petroleum products was prohibited to those who participated in the ceiling price application for Russian oil.

In December 2022, the European Union countries agreed on a ceiling price of 60 dollars per barrel for oil transported by sea from Russia.

Many countries that continue to buy Russian oil, especially China and India, are demanding discounts from Russia, pointing to possible sanctions risks.