January 27, 2023
Vladimir Putin Imposes Ban On Oil Sale To Country Who Abide By Oil Price Cap
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Vladimir Putin Imposes Ban On Oil Sale To Country Who Abide By Oil Price Cap

Vladimir Putin imposes ban on oil sale to country who abide by oil price cap

Vladimir Putin, President of Russia has issued a decree banning oil sales to countries and companies that comply with a price cap agreed to by Western countries earlier this month. 

The cap was put in place in response to Moscow’s invasion of Ukraine in a bid to restrict Russian revenue. 

The presidential decree bans the supply of crude oil and oil products to nations that abide by the cap from February 1 for five months. 

Although, the Russian government says the sales ban may be lifted in individual cases through a “special decision” by President Putin. 

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