Russia does not ignore the harsher reaction to the cap on the price of crude oil
At first glance, Vladimir Putin’s reaction Cap on Russian oil price imposed by the G7 It seemed in line with its previous promises and did not alter the world’s crude oil supply in any way. But the Kremlin has given itself room to take a tougher stance.
The decree signed on Tuesday, prohibits the supply of crude oil and fuel from the country to foreign buyers those who comply with the limit set in their contracts. It seems like a symbolic move at this stage, as the signatory countries mostly stopped purchases.
However, the decree applies to supply contracts used “directly or indirectly”. using the mechanism: widely interpretable language. It also applies to existing agreements if they refer to the cap, according to Kremlin spokesman Dmitri Peskov.
Putin instructed the Cabinet of Ministers To prepare “legal regulations to implement the ban”, as well as establishing the “application control procedure”.
Since the presidential restriction on Russia’s crude oil exports will start on February 1 and Russia’s winter holidays will last until January 9, the government has a few weeks to take further retaliatory measures. The Council of Ministers must determine the date on which the ban on petroleum products will begin and the list of these products.