Putin extends ban on Russian oil exports under price cap through end-2027

AI Summary

Russian President Vladimir Putin has extended the ban on Russian oil exports under the price cap mechanism through the end of 2027. The decree prohibits supply contracts to foreign entities that include the Russian oil price cap mechanism.

The presidential decree prohibits supplies of Russian oil and petroleum products to foreign legal entities and individuals if contracts for such supplies directly or indirectly provide for the use of a price cap mechanism