Russian President Vladimir Putin extended the ban on oil and petroleum products sale to companies and countries complying with Western price cap on Russian oil.
Russian President Vladimir Putin signed the proclamation that prolongs the export ban against Western nations imposing a $60 per barrel price cap on Russian oil until Dec. 31, 2025.
The ruling—which originally went into effect on Feb. 1, 2023—prohibited Russia from selling oil and petroleum products to individuals or businesses taking part in the price cap.
Putin's special approval is required for oil delivery to those who implement a price cap.
A price restriction of $60 per barrel was agreed upon by the G7 and EU nations in December 2022 for oil shipped from Russia by sea.
By Duygu Alhan
Anadolu Agency
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