The document imposes a ban on the export of Russian oil and petroleum products in the event that such supply agreements contain a direct or indirect indication of the application of the maximum price set by the G7 countries, the EU and Australia. The decree became effective on February 1, 2023 and was subsequently extended many times.
Photo: ru.freepik.com
On December 5, 2022, the EU ban on the export of Russian oil by sea came into effect. The G7 countries, the European Union and Australia have set a cost limit on offshore Russian oil supplies in the amount of $60 per barrel for ships and territories under their jurisdiction. The maximum price is set at $100 and $45 per barrel, depending on the category of raw materials. Changing these restrictions is possible only with the consent of all member states of the European Union and G7 members.
We talked about the plans of the G7 countries to further limit the price ceiling for Russian oil in June.
