The Russian Federation will ban the supply of oil and oil products to countries that demand compliance with the price ceiling imposed by the West.

According to the information reported by "APA-Economics" with reference to the Russian press, Deputy Prime Minister Alexander Novak said this.

According to him, at the beginning of 2023, daily oil production can be reduced by 500-700 thousand barrels, which means approximately 5-7%.

The Group of Seven countries, the EU and Australia have agreed to impose a $60 upper price limit for Russian oil transported by sea for their ships and territories from December 5.

In addition, from February 5, 2023, ceiling prices for oil products will come into force, their parameters will be determined later.