The kremlin is preparing to ban the sale of oil to participants in price restrictions

Russian federation is developing a decree banning the sale of oil to participants in the price ceiling mechanism.

In russia, a draft presidential decree is being prepared that will prohibit russian companies and any oil traders from selling oil to countries that have become participants in the price cap mechanism, writes Bloomberg.

Instead of supplying energy carriers to Western countries, russian federation plans to redirect oil exports to “market-oriented partners”, such as India and China, or reduce production.

Earlier, USM reported that the EU countries did not reach an agreement on the price ceiling for russian oil.