RFE: Putin Signs Decree Banning Russian Oil Exports To Countries That Impose Price Cap
Russian President Vladimir Putin has signed a decree banning the supply of crude oil to foreign companies and citizens that abide by a $60-per-barrel price cap set by Western allies as a means to squeeze Russian revenue used to fund the war in Ukraine.
The restrictions will take effect on February 1 and remain in effect until July 1, according to the decree signed by Putin on December 27. The decree applies not only to oil but also to oil products; however, the government will separately determine the date from which sales of those products at the established price ceiling will be prohibited.
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Update #1: Putin bans Russian oil supplies at "capped" prices from February 2023 — decree (TASS)
Update #2: Putin bans Russian oil exports to countries that implement price cap (Reuters)
WNU Editor: Here is an easy prediction. This Russian oil will be sold to other countries/companies who will then find a way to resell it at a premium to Europe.
Middleman fees just went up! Medvedev is going to be proven right about more than one of those "fake" predictions.
ReplyDeleteAs far as I know, this is only an issue for the Druzhba pipeline, meaning it's a problem only for Hungary, Slovakia, partly to the Czechs. Poland is not relying dominantly on Ural oil. The refineries of the formal countries are for Ural type oil.
ReplyDeleteUkraine is demanding, while most EU member states are turning their back on these Eastern members. The result will be more debates, more agressive statements and more disagreement.
While I do not see any chance to return to a peaceful cooperation between Europe and Russia, I neither see how Ukraine will try to restore normal ties with its Western neighbors, nor how the EU will survive its anti-solidarity as a community.