Russian President Vladimir Putin extended the ban on the sale of oil and oil products to those who participate in the price ceiling for Russian oil.
With the decree signed by Putin, the duration of the sanctions decision against Western countries imposing a ceiling price of 60 dollars per barrel on Russian oil was extended to June 30, 2025.
With the decision that came into force on February 1, 2023, Russia banned the sale of oil and oil products to individuals and companies participating in the ceiling price application.
Oil shipments to those who impose price ceilings can only be carried out with Putin’s special permission.
G7 and European Union countries agreed in December 2022 to impose a ceiling price of $60 per barrel on oil transported by sea from Russia.
