The move bans sales to buyers that implement the limitation in their contractsRussia has banned the sale of crude oil to parties that implement the West’s price-ceiling mechanism.From February 1, Russian exporters are obliged to prevent any direct or indirect mention of the price-cap mechanism in contracts with their overseas clients at all stages of fuel delivery to the end customer.If such a mention is discovered in a contract, the exporting company must inform Russian customs authorities and the Ministry of Energy, undertaking to revise the document to eliminate the violation within 30 days. Otherwise, the supply of Russian fuel under such a contract would be illegal.Moscow views both measures as non-market-oriented and unacceptable, and has repeatedly warned that any steps taken by the West to affect Russian energy exports will inevitably backfire on the countries that implement them, triggering further energy inflation due to limited global supply.
This article was originally published by RT.
