Russian oil-price cap countermeasure comes into force ...News

It bans sales of the fuel to buyers that implement the mechanism in their contracts Russia 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,

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