It is noted that Putin's decree concerns not only oil, but also oil products, however, the government must determine the date from which their trade at the established price ceiling will be prohibited.

  • On December 5, an embargo on sea deliveries of Russian oil to the countries of the European Union entered into force, as well as a price ceiling of $60 per barrel for oil from Russia transported by sea.

    It was agreed by the European Union, the countries of the "Group of Seven" and Australia.

  • The purpose of this decision is to reduce Russia's income, which helps its authorities to continue the war in Ukraine, but at the same time preserve Russian supplies to the world market.

  • After that, Russian Deputy Prime Minister Alexander Novak said that the Russian authorities are developing measures that will allow them to refuse oil supplies to countries that will impose a price ceiling on it, even if Russia has to reduce oil production.