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The move is in response to a Western coalition price-limit on Russia’s seaborne oil exports
Written by Fabio G. C. Carisio. Originally published on VeteransToday
President Vladimir Putin has signed a decree on retaliatory measures to the West’s price cap on Russian oil exports. The ratification on Tuesday is in response to the punitive measure taken by the EU, G7 countries, and Australia, which came into effect earlier this month.
The presidential decree bans the supply of oil and petroleum products from Russia to countries which apply a price cap in their contracts. It also prohibits deliveries if the contracts directly or indirectly specify the cap.
According to the decree, which was published on the government’s website, the ban on oil supplies in response to the price cap comes into effect on February 1, 2023 and is valid until July 1, 2023. The effective date of the ban on supplying petroleum products will be determined later by the government.
The president can grant special permission for the supply of oil and oil products prohibited by the price ceiling, according to the decree. The Russian Ministry of Energy will monitor compliance with the presidential order on retaliatory measures.
The $60-per-barrel price cap on Russian seaborne oil exports was introduced by the EU, G7 countries, and Australia on December 5. It bans Western companies from providing insurance and other services for Russian oil shipments unless the cargo is purchased at or below the set price.
The Kremlin vowed to respond to the measure in a way that would best serve Moscow’s interests, warning it would not trade with nations that support the price ceiling. Deputy Prime Minister Aleksandr Novak said that Russian oil will still be in high demand despite the latest sanctions on the country’s exports. By imposing a price cap, Western countries will only trigger further energy inflation due to scarce supply, the minister said, adding that Russia views such types of non-market mechanisms as unacceptable.
Do Western countries still use Russian oil? Wow, shame the U.S. plan isn’t coming to fruition.
U.S. plan did not work
Old jew bitch Yellen ideas are finishing EU perfectly.
So we won. What, not yet?! Fu**!
Shut up Nazi clown 🤡
Did we drive the Moskals out yet? No? WTF?! I have been trolling this site every single day for months, and it is not helping the Nazis win? How is that possible?
I read The French government is giving people money to buy firewood to alleviate their pressure from high fuel prices. A lot of people are losing from this get tough on Russia bs.
So what? Houses and gardens are still beautiful in the West. Even if people gets creative to heat them up. Meanwhile in grey, sad Russia…
Nobody cares. And the rubel lost 20% alone this December 😆😆😆
Ruble you idiot, not rubel.
Good! He should sell to other countries, let then jack up the price and then force the EU to pay more, lol! Russia will sell their oil to Europe one way or the other, it’s just a matter of how much Europe is going to have to pay for it.
The west thinks that it is in the driving seat. They think they can sanction Russia until it shuts down. Russia has massive resources of most things. So does america. But europe doesn’t have any it doesn’t have to buy in. Between the USadmin’s sanctions and the Russian admin’s resource bans, europeans will be left high and dry.
lol we in the west already suffering, US is going through a bomb cyclone. Do our western politicians even realize it at this point? After weakening their countries now their putting a “oil price cap”.
The war is by the elites against the ordinary population of their countries. The elites always try to convince us that our enemies are beyond our nation’s borders, but they are not.
Yes, this is what Putin is doing to Russians
When you said ‘West is suffering’ you have realised that the only ‘suffering’ is petrol price, it went up from £1.25 to £1.54 So much for ‘suffering’… BTW in 2018 petrol was also £1.60 – how about that? Money and inflation is irrelevant for Westerners – and with Russians deported back to Russia cyber crime went down 80% in the West…
French factories are already being forced to remain shut because of energy prices and shortages, so France could be the first EU domino to fall.
Whoever heard of drunks on Skid Row determining the price of a shot of jim bim or jerk daniels at the local piss parlor? Or the toothless meth wrecks on Kensington deciding the price of a fix? The clowns “running” the dying angloZionaZi empire of shit are swirling the crud caked bowl of their ignominioUS history, though sometimes a pesky turd refuses to go down without an extra flush. It will take more than the “nucleer” ravings of the poisoned juice and Pentacon filth in the Washing town sewer to stop the inevitable outcome of the collapse of Natostan and end of the evil EUSSR now playing out in fast evaporating rump Ukrapland.
Z
He lies as usual.
What a communist move by the West: state pricing and creating scarcity.
Work well with the zionist vlad, can you feel it “coming in the night” yet? Haha