Crude ceiling. Beginning in February, Russia will partially ban the sale of crude oil and oil products if the contracts “directly or indirectly imply a price cap mechanism.” The decree, which expires July 1, permits the Kremlin to grant exceptions at its discretion. The G-7, European Union and Australia on Dec. 5 banned the provision […]
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Daily Memo: Russia Reacts to Oil Price Cap
The Kremlin will ban sales that comply with the price ceiling – with exceptions.
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