Vladimir Putin signed a decree this Tuesday (27) that halts the supply of oil and derivatives to countries that adhere to the Russian oil price cap.
On December 5, the G7 countries, the European Union and Australia restricted payments 60 dollars per barrel Oil imported from Russia.
The restriction is another sanction imposed on the Russian government in response war in Ukraine.
Kremlin spokesman. Dmitry Peskovalready said that Moscow will not accept the maximum ceiling at the price of one barrel of oil.
The export ban will take effect on February 1, 2023 and will last for at least five months.