By Natali Moss
The decree states that in contacts for oil supply from Russia should not "directly or indirectly" on the application of the mechanism of limitation of the price introduced by the countries of the European Union and G7. The document will come into force on February 1, 2023. In addition, the Russian government intends to introduce similar oil measures, but the date is currently unknown. Journalists claim that the new document provides exceptions to the rules.
In order to resort to them, Vladimir Putin's permissions are needed. Earlier, it was also reported that the ban will not extend to the agreements concluded by the Russian Federation by December 5. It was from this date that the oil embargo came into force. In addition to the EU countries and the Great Seven, Australia joined the established ceiling of prices. It is expected that the limitation of the value of Russian oil will strike the economy of the Russian Federation.
Therefore, Russia will have to cut its expenses for war in Ukraine. Recall that, according to Bloomberg, the Russian Federation intends to reduce oil production, reducing volumes by 500-700 thousand barrels per day. So in Russia they responded to the restrictions of G7 countries for exports of Russian oil. Focus also wrote about why in Europe and Ukraine the ceiling of gas prices from the Russian Federation. According to the World Bank, the GDP of Russia by the end of 2022 should be reduced by 4.
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