Putin extends ban on Russian oil exports under price cap through end-2027
The presidential decree prohibits supplies of Russian oil and petroleum products to foreign legal entities and individuals if contracts for such supplies directly or indirectly provide for the use of a price cap mechanism
A presidential decree has been issued that prohibits the supply of Russian oil and petroleum products. This prohibition applies to foreign legal entities and individuals when contracts involve the use of a price cap mechanism. The ban is in effect through the end of 2027.
- Presidential decree prohibits supplies of Russian oil and petroleum products.
- The prohibition applies to foreign legal entities and individuals.
- Contracts that directly or indirectly provide for the use of a price cap mechanism are covered.
- The ban is effective through the end of 2027.
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