Putin signs a decree to extend the ban on the sale of Russian crude oil to countries that set a price cap

MADRID Dec. 13 () –

The president of Russia, Vladimir Putin, signed a decree this Friday to extend until June 30, 2025 the ban on selling Russian oil to those countries that set a price cap in retaliation for this measure imposed by the West.

The decision contemplates an extension of the ban on the supply of oil and products derived from Russian crude oil to those countries, both Western and foreign, that refer to a maximum price in their contracts.

The decree came into force on February 1, 2023 and was originally scheduled to last until July 1 of that year, although the decision has been extended several times by decree since then, according to the state news agency TASS.

In early December 2022, the European Union, together with G7 leaders and Australia, agreed to impose a price limit of $60 per barrel on Russian oil transported by sea in the context of the Ukraine war.